Logitech International Q3 EPS $1.53 Beats $1.17 Estimate, Sales $1.25B Beat $1.25B Estimate
Portfolio Pulse from Benzinga Newsdesk
Logitech International (NASDAQ:LOGI) reported Q3 earnings of $1.53 per share, surpassing the consensus estimate of $1.17 by 30.77%. This represents a 34.21% increase from $1.14 per share in the same quarter last year. Sales reached $1.25 billion, slightly beating the $1.25 billion estimate and marking a 1.17% decrease from $1.27 billion in the previous year.
January 23, 2024 | 5:46 am
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Logitech's Q3 earnings and sales exceeded analyst expectations, with a significant increase in EPS compared to last year, despite a slight decline in sales.
Beating earnings estimates typically generates positive investor sentiment, which can lead to a short-term increase in stock price. The substantial beat in EPS and the slight beat in sales, despite a year-over-year sales decline, indicate strong financial performance, which is likely to be viewed favorably by the market.
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IMPORTANCE 90
RELEVANCE 100