Logitech reports 75 percent jump in quarterly sales, raises FY outlook

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Logitech reports 75 percent jump in quarterly sales, raises FY outlook

Logitech International on Tuesday reported a surge in second-quarter revenue and net profit as the computer peripherals maker benefited from a shift to working from home during the COVID-19 pandemic.

The maker of computer keyboards and mice also raised its full-year forecast, saying it now expects annual sales to increase between 35 percent and 40 percent in constant currencies and non-GAAP operating income of between US$700 million and US$725 million.

"The growth trends that drive our business have accelerated as society adjusts to its new reality," said Chief Executive Officer Bracken Darrell in a statement.

"The organization leaders I speak to envision people increasingly working from multiple locations, a hybrid work culture that is emerging as the norm."

The Swiss-U.S. firm has been profiting from people working from home, which has driven a rise in video calls, and companies refitting their offices to comply with social distancing restrictions.

Logitech said sales rose 75 percent to US$1.26 billion in the three months to the end of September. Net income rose to US$266.9 million from US$73 million a year earlier.

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