Business

Logitech reports 192% jump in quarterly operating income

FILE PHOTO: Logitech keyboards are seen in the computer shop in Zenica, Bosnia and Herzegovina October 20, 2020. REUTERS/Dado Ruvic

(Reuters) – Logitech International increased its non-GAAP operating income by 192% in the third quarter, the computer peripherals maker said on Tuesday, as the COVID-19 pandemic boosted demand for its home-working products and gaming accessories.

Excluding items, the Swiss-U.S. company’s net profit rose to $2.45 per share in the three months to the end of December, up from $0.84 per share a year earlier, it said in a statement.

Sales at the company, which makes mobile speakers, keyboards, mice and video conferencing devices, increased 85% to $1.67 billion.

Source: Read Full Article