How Logitech International Surprised Investors Last Quarter
Logitech International (NASDAQ: LOGI) entered the quarter facing a few headwinds, such as currency and tariffs. Those headwinds didn't hold the company back, as it delivered solid gains on the top and bottom lines that were better than expectations.
Sales increased by 6% year over year, or by 9% on a currency-neutral basis, which was at the high end of management's guidance. Non-GAAP (adjusted) earnings per share jumped 15% over the year-ago quarter as a result of higher margins.
The stock moved about 5% higher following the earnings report, as market participants gave their approval. Two highlights from the quarter were margin performance and the strength in the gaming segment excluding sales of headsets.
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