Logitech 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% and 40% in constant currencies and non-GAAP operating income of between US$700-million and $725=million.
“The growth trends that drive our business have accelerated as society adjusts to its new reality,” said CEO Bracken Darrell in a statement.
“The organisation leaders I speak to envision people increasingly working from multiple locations, a hybrid work culture that is emerging as the norm.”
The Swiss-US 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% to $1.26-billion in the three months to the end of September. Net income rose to $266.9-million from $73-million a year earlier. — Reported by Sabahatjahan Contractor and John Revill, (c) 2020 Reuters