Why Logitech Shares Are Rocketing Today
Portfolio Pulse from Lekha Gupta
Logitech International S.A. (LOGI) shares rose by around 10% after reporting Q2 FY24 results. Despite an 8% Y/Y fall in revenue to $1.06 billion, the figure exceeded the consensus of $968.4 million. Adjusted gross margin expanded to 42.0%, and adjusted operating income grew 17% Y/Y to $183 million. The company also raised its FY24 sales guidance to $4.0 billion - $4.15 billion. Logitech returned $276 million to shareholders in Q2 FY24, including share repurchases of $94 million.
October 24, 2023 | 10:29 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Logitech's shares rose after better-than-expected Q2 FY24 results and raised FY24 sales guidance. The company also returned $276 million to shareholders, including share repurchases.
Logitech's shares rose due to better-than-expected Q2 FY24 results and raised sales guidance, which indicates strong performance and positive future outlook. The company's decision to return money to shareholders, including share repurchases, also positively impacts investor sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100