Why Logitech Stock Jumped This Week | The Motley Fool
This discounted stock could have room to run as the business returns to growth.
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This discounted stock could have room to run as the business returns to growth.
While the new CEO chimed in at the company’s annual meeting, it was chair Richard Carucci laid out where the company has been and where it’s going.
Logitech International S.A. (NASDAQ: LOGI) reported Q1 FY24 revenue of $974.5 million, down 16% Y/Y (-15% in constant currencies),
It also forecast full year sales of $3.8 billion to $4 billion. The keyboard-maker, whose products also include mobile speakers, webcams and computer mice, said its sales in the three months to end of June fell 16% to $974 million. After seeing a big jump in sales during the COVID-19 pandemic as people equipped their home offices with the latest keyboards and peripherals, Logitech has been bracing itself for a downturn this year.
Logitech International, a prominent computer peripherals maker, said its sales declined by 16 percent to $974 million during April-June 2023.