By John Revill
ZURICH (Reuters) -Logitech on Tuesday reported better-than-expected sales and earnings for the second quarter as the computer peripherals maker sold more of its artificial intelligence-enabled products.
The Swiss-American company said its sales rose 6% to $1.19 billion for the three months ended September 30.
The figure came in slightly ahead of the analyst estimate of $1.18 billion, according to Visible Alpha.
Meanwhile, non-GAAP operating income rose 19% to $230 million, beating analysts’ estimates of $196 million.
Logitech said it was being helped by increased sales to businesses, which were investing more in products such as video conferencing equipment and computer peripherals to help with hybrid work.
Sales of computer keyboards rose 12%, while those of mice jumped 13% in the quarter. Sales of video collaboration devices rose 5%.
Gaming product sales rose 8%, helped by 12 new launches, including steering wheels and special mice aimed at computer gamers.
“We delivered another strong quarter, driving growth and excellent profitability,” CEO Hanneke Faber said in a statement.
The company saw strong demand from businesses and consumers, Faber added.
Logitech – which is based in Lausanne, Switzerland, and San Jose, California – has recently been shifting production lines from China to lessen the impact of U.S. tariffs, while its plant in Suzhou will continue to supply China.
Logitech also increased prices by 10% in the U.S. in April to counter the tariff impact.
For the coming quarter, Logitech expects sales of $1.38 billion to $1.42 billion, an increase of 3%-6% when converted to U.S. dollars.
It also said it expected non-GAAP operating income of $270 million to $290 million.
(Reporting by John Revill; Editing by Anil D’Silva)
