Published on 30 Apr 2024 on Zacks via Yahoo Finance
Logitech's (LOGI) Q4 Earnings and Revenues Crush Estimates
Logitech International S.A. LOGI ended fiscal 2024 on a strong note by reporting better-than-expected results in the fourth quarter. The computer peripheral and software maker’s fiscal fourth-quarter non-GAAP earnings of 99 cents per share beat the Zacks Consensus Estimate of 63 cents per share and registered a year-over-year increase of 98%. The company’s fourth-quarter bottom-line results mainly benefited from increased revenues, and lower product and logistics costs.
Logitech’s fiscal fourth-quarter revenues of $1.01 billion outpaced the consensus mark of $956.9 million. Moreover, the top line marked a year-over-year increase of 5% on a reported basis as well as on a constant-currency basis, mainly driven by increased demand across key product categories and lower inventory reductions by channel partners compared with the year-ago quarter.