Logitech Earnings: LOGI Reports Solid Q2 2020 Earnings

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Logitech (NASDAQ:LOGI) earnings for the electronics company’s fiscal second quarter of 2020 are a decent result. This is due to the company’s adjusted earnings per share of 50 cents and revenue of $719.69 million for the quarter. In comparison, Wall Street was looking for earnings per share of 50 cents on revenue of $723.94 million for the period.

Logitech Earnings: LOGI Reports Solid Q2 2020 Earnings

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Now let’s look deeper into the most recent Logitech earnings report.

  • Adjusted EPS reported during the quarter was up 2.04% from 49 cents in the same period of the year prior.
  • Revenue comes in 4% higher than the $691.15 million reported in the fiscal second quarter of the previous year.
  • Operating income of $68.06 million comes in 4.50% better YoY compared to $65.13 million.
  • The Logitech earnings report also includes a net income of $72.93 million.
  • This is a 13.63% increase from the company’s net income of $64.18 million from the same time last year.

Bracken Darrell, President, and CEO of Logitech, has this to say about the LOGI stock earnings.

“Our solid Q2 demonstrates Logitech’s resilience as we continue to execute on our strategy. This quarter, we delivered record sales in Video Collaboration, which grew nearly 60 percent, as well as strong growth in our PC Peripherals categories. We continue to perform in spite of the challenging macroeconomic environment and are confirming our annual guidance heading into the second half of the fiscal year.”

LOGI will be holding a conference call at 8:30 a.m. Eastern Time Tuesday to go over the results.

The stock was sitting up 1.75% when the markets closed today. It’s also up 28.32% since the start of the year.

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/2019/10/logitech-earnings-q2-beat-estimates/.

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