Logitech raises sales forecast for the first half of 2024
Image Source: finance.yahoo.com
Logitech International (LOGN.S) upped its revenue and earnings projection for the first quarter of the fiscal year 2024.
Guy Gecht, the interim chief executive officer of Logitech, stated that the financial markets were constantly competitive for the company.
The Swiss-American business was, though, a little more upbeat on Tuesday, stating that it now anticipates first-half revenues of 1.875 billion USD to 1.975 billion USD.
Additionally, the business anticipates non-GAAP operating earnings in the range of 180 million dollars to 220 million dollars for the first half of this fiscal year, up from its earlier forecast of 160 million dollars to 190 million dollars.
In addition, Logitech predicted full-year revenues of 3.8 billion dollars to 4 billion dollars in its first prediction for this fiscal year.
Logitech achieved steady success in cutting operational costs and inventories over the three months leading up to the finish of June.
The present economic decline presents a dilemma for Logitech because it hasn’t yet hired Darrell’s replacement.
Darrell left last month to take the CEO position at VF Corporation (VFC.N), the company that makes Vans trainers and The North Face outerwear.