By John Revill<\/p>\n
ZURICH (Reuters) -Logitech on Tuesday reported better-than-expected sales and earnings for the second quarter as the computer peripherals maker sold more of its artificial intelligence-enabled products.<\/p>\n
The Swiss-American company said its sales rose 6% to $1.19 billion for the three months ended September 30.<\/p>\n
The figure came in slightly ahead of the analyst estimate of $1.18 billion, according to Visible Alpha.<\/p>\n
Meanwhile, non-GAAP operating income rose 19% to $230 million, beating analysts’ estimates of $196 million.<\/p>\n
Logitech said it was being helped by increased sales to businesses, which were investing more in products such as video conferencing equipment and computer peripherals to help with hybrid work.<\/p>\n
Sales of computer keyboards rose 12%, while those of mice jumped 13% in the quarter. Sales of video collaboration devices rose 5%.<\/p>\n
Gaming product sales rose 8%, helped by 12 new launches, including steering wheels and special mice aimed at computer gamers.<\/p>\n
“We delivered another strong quarter, driving growth and excellent profitability,” CEO Hanneke Faber said in a statement.<\/p>\n
The company saw strong demand from businesses and consumers, Faber added.<\/p>\n
Logitech – which is based in Lausanne, Switzerland, and San Jose, California – has recently been shifting production lines from China to lessen the impact of U.S. tariffs, while its plant in Suzhou will continue to supply China.<\/p>\n
Logitech also increased prices by 10% in the U.S. in April to counter the tariff impact.<\/p>\n
For the coming quarter, Logitech expects sales of $1.38 billion to $1.42 billion, an increase of 3%-6% when converted to U.S. dollars.<\/p>\n
It also said it expected non-GAAP operating income of $270 million to $290 million.<\/p>\n
(Reporting by John Revill; Editing by Anil D’Silva)<\/p>\n","protected":false},"excerpt":{"rendered":"By John Revill ZURICH (Reuters) -Logitech on Tuesday reported better-than-expected sales and earnings for the second quarter as…\n","protected":false},"author":2,"featured_media":109119,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[220,218,219,66481,66478,61,66479,60,22809,80,66480],"class_list":{"0":"post-109118","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-artificialintelligence","11":"tag-computer-keyboards","12":"tag-computer-peripherals","13":"tag-ie","14":"tag-increased-sales","15":"tag-ireland","16":"tag-logitech","17":"tag-technology","18":"tag-visible-alpha"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/109118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=109118"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/109118\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/109119"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=109118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=109118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=109118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}