Logitech Q2 Sales Beats By A Whisker, Ups FY25 Sales Forecast But Lags Behind Expectations
Logitech International S.A. (NASDAQ:LOGI) shares are trading lower after it reported second-quarter FY25 results.
Revenue rose 6% (both reported and constant currencies) to $1.116 billion, marginally exceeding the consensus of $1.11 billion.
By category, sales in Video Collaboration rose 5%, Gaming increased 7%, while Keyboards & Combos sales and Pointing Devices were up by 8% and 2%, respectively.
Adjusted gross margin expanded to 44.1% from 42.0% a year ago. Adjusted operating income grew 5% to $193 million in the quarter.
Adjusted EPS of $1.20 beat the consensus of $0.99.
Logitech held over $1.36 billion in cash and equivalents as of September 30 and generated $166 million in operating cash flow in the quarter.
In the quarter, Logitech returned $340 million to shareholders through share repurchases and dividends.
FY25 Outlook: The company raised its sales outlook to $4.39 billion -$4.47 billion, up 2% – 4% (from the previously expected $4.34 billion – $4.43 billion) versus the consensus of $4.512 billion.
Logitech now sees an adjusted operating income of $720 million – $750 million (versus $700 million – $730 million prior view).
Hanneke Faber, chief executive officer, said, “Growth was broad-based, across regions, categories, and both our consumer and business customers. We launched a terrific set of innovations in the quarter and we are ready for the holidays.”
Price Action: LOGI shares are down 9.38% at $83.18 at the last check Tuesday.
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This article Logitech Q2 Sales Beats By A Whisker, Ups FY25 Sales Forecast But Lags Behind Expectations originally appeared on Benzinga.com
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