Logitech reported its strongest quarterly profit since the pandemic, driven by higher sales of video conferencing and education equipment.

Revenue rose 6% year-on-year to US$1.4 billion for the quarter ended December 31, slightly above estimates.

Adjusted operating income increased 17% to US$312 million, the highest level since before the pandemic years.

Growth was seen across product categories, regions, and sales channels, supported by higher prices and cost reductions.

The company said it has cut US-bound products made in China from 40% to under 10% as part of supply chain adjustments.

For the next quarter, Logitech expects sales to grow 6% to 8% to around US$1.1 billion.

Adjusted operating income is forecasted at between US$155 million and US$165 million.

🔗 Source: Reuters