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Logitech said it now expected annual sales growth of between 57% and 60% for the full year. Araya Diaz/Getty Images for Logitech
Logitech stock jumped early on Tuesday, as the computer peripherals maker raised its annual guidance for the third time after profits soared in the third quarter.
The Swiss-U.S. company, which also has a Nasdaq listing, has benefited from the Covid-19 pandemic-induced work-from-home trend as demand for its products including webcams, keyboards and gaming accessories has surged.
The momentum continued in the third quarter as Logitech reported sales of $1.67 billion, an 85% increase on the year-ago period, led by videoconferencing and gaming products. Operating income grew 248% to $448 million in the three months to Dec.31, while net profit excluding items rose 192% to $2.45 per share, smashing the FactSet consensus of $1.14 per share. The