Logitech International SA (USA) (LOGI) Shares Plunge Despite Better-Than-Expected Q1 Earnings, Revenue

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Logitech International SA (USA) (NASDAQ:LOGI) stock took a dive today despite a positive earnings report for its fiscal first quarter of 2018.

Logitech International SA (USA) (LOGI) Shares Plunge Despite Better-Than-Expected Q1 Earnings, Revenue

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During its fiscal first quarter of 2018, Logitech International SA (USA) reported earnings per share of 24 cents. This is an increase over its earnings per share of 20 cents from its fiscal first quarter of 2017. It also came in one penny above what Wall Street was expecting for the quarter, but still couldn’t save LOGI stock.

Revenue reported by Logitech International SA (USA) for its fiscal first quarter of 2018 was $529.95 million. This is up from the $479.86 million that was reported during the company’s fiscal first quarter of 2017. LOGI stock was still hit hard today, despite its revenue beating analysts’ estimates of $521.24 million for the quarter.

Operating income reported by Logitech International SA (USA) in its fiscal first quarter of 2018 was $31.43 million. The electronics company reported operating income of $25.86 million in the same fiscal period of the previous year.

Logitech International SA (USA) reported net income of $37.01 million in its fiscal first quarter of 2018. This is better than the net income of $21.94 million that was reported in the same quarter of the previous year.

Logitech International SA (USA) also updated its guidance for the fiscal full year of 2018 in its most recent earnings report. The company says that it now expects sales growth between 10% and 12% on a constant currency basis. It is also expecting operating income for the year to range from $260 million to $270 million.

LOGI stock was down 9% as of Tuesday morning, but is up 48% year-to-date.

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


Article printed from InvestorPlace Media, https://investorplace.com/2017/07/logitech-international-sa-usa-logi/.

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