Growth in gaming accessories pushes Logitech's fourth-quarter sales higher
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A Logitech MX Master 3S mouse is displayed in a building at the EPFL Innovation Park in Ecublens near Lausanne, Switzerland, April 30, 2024. REUTERS/Denis Balibouse
By John Revill
ZURICH, May 5 (Reuters) - Logitech International on Tuesday reported better-than-expected results for the fourth quarter, with the computer hardware maker seeing strong growth in gaming accessories and video collaboration devices.
Logitech, whose products include computer mice, keyboards and webcams, said its sales rose 7% to $1.09 billion in the three months to the end of March, beating Visible Alpha's consensus estimate of $1.08 billion.
The Swiss-U.S. company's non-GAAP operating income, which excludes items such as restructuring charges and gains on investments, rose 25% to $167 million, beating analysts' average estimate of $164 million.
The results were boosted by higher profit margins, supported by a 10% price increase in the United States last year to offset the impact of President Donald Trump's tariffs.
Gaming product sales also accelerated by 12% during the quarter, helped by the launch of new products.
Video collaboration devices — cameras, speakers and microphones used to enable remote meetings — increased sales by 13%, supported by devices that use artificial intelligence to cancel noise and adjust the frame and lighting during meetings.
Under CEO Hanneke Faber, Logitech has focused more on business customers and on developing regionally focused products such as special keyboards for China.
The company is also using AI to speed up its development process, as well as integrating the technology into its new devices.
For the first quarter of fiscal 2027, Logitech said it expects sales to grow by 4% to 6% to a range of $1.19 billion to $1.22 billion. It said it also expects to post non-GAAP operating income of $195 million to $215 million.
(Reporting by John Revill; editing by Alan Barona)
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