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Logitech Earnings: LOGI Stock Pops on Q3 Beat, Guidance

William White

The Logitech earnings report for its fiscal third quarter of 2019 gave LOGI stock a slight boost on Tuesday.

Logitech Earnings: LOGI Stock Pops on Q3 Beat, Guidance

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Logitech (NASDAQ:LOGI) starts off the earnings report for its fiscal third quarter of 2019 with earnings per share of 79 cents. Logitech earnings per share from the same period of the year prior was 65 cents. This is good news for LOGI stock as Wall Street was looking for the company to report earnings per share of 67 cents for the quarter.

The most recent Logitech earnings report also includes net income of $112.81 million. This is an increase over the company’s net income of $80.77 million reported in its fiscal third quarter of the previous year.

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Logitech earnings for the third quarter of the year also has operating income coming in at $123.38 million. The creator of computer accessories reported operating income of $100.26 million during the same time last year.

Logitech also reported revenue of $864.39 million for its fiscal third quarter of 2019. This is better than the company’s revenue of $812.02 million reported in its fiscal third quarter of 2018. It was also a boon to LOGI stock by coming in above analysts’ revenue estimate of $860.00 million for the period.

Another bonus to LOGI stock today was an update to its outlook for the full fiscal year of 2019. The company says that it is now expecting non-GAAP operating income between $340 million and $345 million. It’s previous outlook had this sitting at a range of $325 million to $335 million. It is also looking for annual sales growth between 9% and 11% on a constant currency basis.

LOGI stock was up 1% as of noon Tuesday.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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