Computer parts maker Logitech rises 9% after Q3 beat, outlook upgrade

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January 29, 2025 5:18 AM EST

FILE PHOTO: A view of the Logitech logo on a building at the EPFL Innovation Park in Ecublens near Lausanne, Switzerland, April 30, 2024. REUTERS/Denis Balibouse/File photo

(Reuters) - Shares in Logitech jumped as much as 9.4% at 0835 GMT on Wednesday, a day after the Swiss-American computer keyboard and mouse-maker raised its full-year outlook and posted a third-quarter sales beat.

The results underscore the company's strong execution, driven by high demand across regions and product categories alongside a robust margin performance, which positions Logitech well for sustained long-term growth, said analysts from JP Morgan.

The guidance upgrade leaves room for an upside for the fourth quarter, the analysts added.

If gains persist, the stock will rise 17% so far this year.

Shares are on track for a best day since October 2023, topping the Swiss blue-chip index.

(Reporting by Amir Orusov, Editing by Miranda Murray)


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