Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Logitech posts 4.5% rise in quarterly operating income, retains outlook

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/21/2019 | 10:19pm EST
CEO Darrell of the computer peripherals maker Logitech addresses a news conference in Zurich

(Reuters) - Logitech International SA reported a 4.5% increase in operating income for its latest quarter, the Swiss computer keyboard and gaming accessories maker said on Tuesday.

GAAP operating income increased to $68.1 million in the three months to the end of September from 65.1 million a year earlier, the company said in a statement.

Non-GAAP operating income rose to $89 million from $85 million a year earlier.

Net profit at the world's biggest maker of computer mice was $72.9 million, missing analyst estimates for $82.9 million, according to Refinitiv data.

Sales rose 4% to $720 million, boosted by the performance of fast keyboards, mice and headsets that Logitech makes for players of online games like Fortnite and League of Legends.

Anticipating further growth in the online gaming market, Logitech recently doubled down on its involvement in online sports games, buying live streaming company Streamlabs in a deal worth up to $118 million.

The company confirmed its full year outlook of expecting mid to high single-digit sales growth in constant currencies and $375 million to $385 million in non-GAAP operating income.

"This quarter, we delivered record sales in video collaboration, which grew nearly 60%, as well as strong growth in our PC peripherals categories," Chief Executive Bracken Darrell said in the statement.

(Reporting by Rebekah Mathew in Bengaluru and John Revill in Zurich; Editing by Tom Hogue and Muralikumar Anantharaman)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
09:53pThe Best-Managed Companies of 2019 -- and How They Got That Way -- Journal Report
DJ
09:52pThe Best-Managed Companies of 2019 -- and How -2-
DJ
09:52pThe Best-Managed Companies of 2019 -- and How -2-
DJ
09:52pThe Best-Managed Companies of 2019 -- and How They Got That Way -- Journal Report
DJ
09:52pThe Best-Managed Companies of 2019 -- and How -2-
DJ
09:52pThe Best-Managed Companies of 2019 -- and How They Got That Way -- Journal Report
DJ
09:52pThe Best-Managed Companies of 2019 -- and How They Got That Way -- Journal Report
DJ
09:43pCENTRAL PEOPLE GOVERNMENT OF PEOPLE RE : China's crude steel consumption to exceed 900m tons in 2019
PU
09:21pARAMCO IPO : It's a thanks, but no thanks from Malaysia's Petronas
RE
09:13pTAKE FIVE : A spanner in the global economic works
RE
Latest news "Economy & Forex"