Logitech CEO: We're Building New Growth Engines for the Future
Logitech International (NASDAQ: LOGI) has been a major beneficiary of the work-from-home trend this year. Its revenue shot higher again in its most recent quarter, driven by strong sales of PC webcams and gaming products.
Some investors might be concerned that its growth might slow after the pandemic recedes, but Logitech CEO Bracken Darrell said he sees recent trends continuing to fuel demand for these products for a long time.
In its fiscal 2021 second quarter, which ended Sept. 30, Logitech reported a year-over-year sales increase of 75%, with higher margins sending non-GAAP operating income up 295% year over year. Even though Logitech stock has doubled year to date, its price-to-earnings ratio remains at a relatively low 24 due to strong performance on the bottom line.
Source Fool.com
