Why Logitech Stock Tumbled Today
Shares of Logitech International (NASDAQ: LOGI) were taking a dive today after the maker of computer accessories like mice, keyboards and webcams posted disappointing results in its preliminary earnings report for the third quarter of fiscal 2023, ended Dec. 31, 2022.
The stock was down 17% as of 12:05 p.m. ET.
Logitech said preliminary revenue fell 22% to 23%, or 17% to 18% in constant currency, to $1.26 billion to $1.27 billion, which was well below the analyst consensus at $1.39 billion.
Source Fool.com
