Logitech: share down as FY guidance reduced

(CercleFinance.com) - Logitech shares have fallen by over 4% at one point in Zurich this morning, penalised by the company reducing its annual outlook, with sales now expected to fall by 8% to 4% at constant exchange rates, with an adjusted operating profit of 650 million to 750 million dollars.


For Q1 2022-23, the group reported adjusted EPS that is down 39% to 0.74 dollar and an adjusted operating profit that is down 38% to 146 million dollars, on sales that fell 12% to 1.16 billion dollars (-9% at constant exchange rates).

In addition, the computer peripherals supplier added that its board of directors had approved an increased share buyback authorisation of up to 1.5 billion dollars, extending the current 1 billion dollar envelope over three years.


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