Logitech: share down after unsurprising quarter

(CercleFinance.com) - Logitech shares were a big faller on the SMI mid index on Tuesday in Zurich after the computer accessories maker reported quarterly results that were in line with expectations.


Its share price is down about 5%, while the SMI index is almost afloat (-0.2% after lunch).

Q1 operating profit at end-June, reached 235 million dollars, compared with a profit of 117 million a year earlier, the peripherals specialist announced.

Meanwhile, quarterly revenue rose 66% to 1.3 billion dollars.

The group said that its FY 2021/2022 year has got off to a solid start, confirming its FY forecast of operating profit of 800 to 850 million dollars, although this was actually disappointing, given the group's habit of regularly raising its annual targets.


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