Logitech International, a leading manufacturer of computer keyboards and mice, announced a positive revision of its annual forecast due to robust second-quarter results and growing market demand.
The Swiss-American tech company now anticipates annual sales between $4.39 billion and $4.47 billion, up from the previous estimate of $4.34 billion to $4.43 billion. In the quarter ending September, Logitech's non-GAAP operating income rose 5% to $193 million, surpassing analysts' expectations of $176 million as surveyed by Visible Alpha.
Logitech's other product lines, such as mobile speakers and webcams, also experienced revenue growth. These segments saw a 6% increase, reaching $1.12 billion, exceeding the anticipated $1.1 billion mark.
Logitech's CFO, Matteo Anversa, expressed confidence in raising the annual outlook, citing strong performance and overall business momentum. The company, headquartered in Lausanne, Switzerland, and San Jose, California, now expects non-GAAP operating income for the year to be between $720 million and $750 million, compared to the previous forecast of $700 million to $730 million.
