Logitech (LOGI) Tops Q2 EPS by $1.30, Revenues Rise 75% on Work from Home Boom

Logitech (NASDAQ: LOGI) reported Q2 EPS of $1.87, $1.30 better than the analyst estimate of $0.57. Revenue for the quarter rose 75% to $1.26 million versus the consensus estimate of $834.5 million.

“Our growth and profitability accelerated again this quarter, and we are raising our annual outlook,” said Bracken Darrell, Logitech president and chief executive officer. “The growth trends that drive our business have accelerated as society adjusts to its new reality. The organization leaders I speak to envision people increasingly working from multiple locations, a hybrid work culture that is emerging as the norm. And at home, the rise of gaming as a spectator and participant sport continues with no end in sight. Our products are essential to helping customers work, play and create wherever they are. Logitech is well positioned for long-term growth.”Outlook

Logitech raised its Fiscal Year 2021 annual outlook to between 35 and 40 percent sales growth in constant currency, and a range of $700 million to $725 million in non-GAAP operating income. The Company’s previous outlook was between 10 and 13 percent sales growth in constant currency, and a range of $410 million to $425 million in non-GAAP operating income.

For earnings history and earnings-related data on Logitech (LOGI) click here.

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