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Sep 30, 2023
Logitech Q2 2024 Earnings Report
Logitech's second quarter of fiscal year 2024 witnessed a sales decrease but improved profitability through cost management and new product introductions.
Key Takeaways
Logitech reported sales of $1.06 billion, an 8% decrease year-over-year, but increased GAAP operating income by 23% to $157 million and GAAP EPS by 72% to $0.86. The company raised its full-year outlook for Fiscal Year 2024, expecting sales between $4.0 and $4.15 billion and non-GAAP operating income between $525 and $575 million.
Sales were $1.06 billion, down 8% in US dollars and 9% in constant currency compared to the prior year.
GAAP operating income increased by 23% to $157 million, while non-GAAP operating income increased by 17% to $183 million.
GAAP EPS was $0.86, up 72% compared to the prior year, and non-GAAP EPS was $1.09, up 30% compared to the prior year.
The company returned $276 million to shareholders through dividends and share repurchases and cash flow from operations was $223 million.
Revenue by Segment
Forward Guidance
Logitech raised its full-year outlook for Fiscal Year 2024.
Positive Outlook
- Sales are expected to be between $4.0 and $4.15 billion.
- Sales decline (in US dollars, year over year) is expected to be between 12% and 9%.
- Non-GAAP operating income is expected to be between $525 and $575 million.
- Non-GAAP op. inc. decline (year over year) is expected to be between 11% and 2%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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