FMP
Logitech Shares Climb 4% Following Q4 Beat
Apr 30, 2024 11:55 AM - Davit Kirakosyan
Image credit: FMP
Logitech (NASDAQ:LOGI) saw its stock surge over 4% pre-market today after the company announced fourth-quarter earnings and revenue that surpassed consensus estimates. The company reported earnings per share (EPS) of $0.99, well above the expected $0.68. Quarterly revenue also exceeded expectations, coming in at $1.01 billion—a 5% increase from the previous year and higher than the projected $957.77 million.
The company's non-GAAP operating profit saw a significant jump of 93% to $159 million, and the gross margin improved substantially by 730 basis points to 43.6%.
For the upcoming 12 months, Logitech set a sales growth target of 0%-2%, aiming for total sales between $4.3 billion and $4.4 billion. Additionally, the company forecasts its non-GAAP operating income to range from $685 million to $715 million.
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