Logitech Q2 sales were $1.26 billion, up 75%, while GAAP operating income was $322 million from $68 million, a 372% growth from the same quarter last year, according to press release. Quarterly revenues were greater than expected $719 million year-over-year basis. Earnings per share (EPS) grew 274% from $0.50 prior quarter to $1.87. Growth trends driven by Logitech’s business’s alignment with the new reality in the pandemic era and rising gaming as a spectator and participant sport.
- Logitech anticipates sales growth of between 35% to 40% in constant currency, up from previous 10% to 13% outlook.
- Non-GAAP operating income outlook to range $700 million and $725 million, up from previous outlook range of $410 million to $425 million.
- Company’s gross margins are 45.7%, up from 38.4% year-over-year basis
- Adjusted operating income is $353.5 million, up from $89.4 million year-over-year basis.
- Q2 was the first time that Logitech quarterly sales have exceeded the billion-dollar mark.
Logitech stock is gaining on strong quarterly earnings. LOGI: NASDAQ is up on premarket 22.02%