Logitech: share price soars, 4th quarter better than expected
This morning, the Swiss manufacturer of technology accessories reported a 93% increase in operating profit, excluding non-recurring items, to $159 million for the fourth quarter of its financial year ended March.
By way of comparison, analysts were only expecting operating profit of $107 million.
At $1.01 billion, quarterly sales were up 5% at constant exchange rates, again exceeding the consensus of $953 million.
The Swiss group also unveiled its financial targets for the new 2024/2025 financial year, targeting sales growth of 0% to 2% at constant exchange rates, and operating income of between $685 and $715 million excluding exceptional items.
According to Stifel analysts, these annual targets are once again ahead of market expectations.
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