In after-hours trading, the Logitech (NASDAQ: LOGI) share price rose more than 16% after the company reported strong second-quarter financial results on Monday. The company profit for the last quarter jumped to $266.9 million from $72.9 million, as sales surged 75% to $1.26 billion.
"The growth trends that drive our business have accelerated as society adjusts to its new reality, our products are essential to helping customers work, play, and create wherever they are. Logitech is well-positioned for long-term growth”. CEO Bracken Darrell said.
Earnings per share: $1.87 vs. $0.58 expected
Revenue: $1.26 billion vs. $834 million expected
The Swiss-U.S. firm said in the second quarter, the Americas sales grew to 85% from 23% in Q1. Several products reported sales that more than doubled, such as PC Webcams, education tablet keyboards, Video collaboration, and gaming. The company has raised the outlook for the fiscal year 2021 to the growth of 35-40 percent in revenues at constant currency rates and a range of USD 700-725 million for adjusted operating income.