Logitech fizzles despite revealing 85% sales growth in latest earnings

Posted On: Feb 25, 2021   |   Posted By: Business Insider

Logitech fizzles despite revealing 85% sales growth in latest earnings

Summary List Placement Logitech stock traded down on Friday despite a strong earnings report for the holiday quarter.
The Swiss-American manufacturer of computer peripherals and software revealed 85% sales growth in the quarter, beating analysts' estimates by over $400 million.
Additionally, cash flow from operations was up to $530 million versus $181 million from a year ago. And EPS grew an incredible 192% year-over-year to $2.45.
Logitech also raised its 2021 annual outlooks. The company now sees its annual sales growth of 57%-60%, up from 35%-40%.
Logitech also believes it will break the $1 billion mark in non-GAAP operating income for the first time in 2021, notching a $300 million increase over previous estimates.

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