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Logitech shares soar on retail sales growth in second quarter

Berkeley Lovelace Jr.
Updated
Nelson Ching | Bloomberg | Getty Images

U.S.-listed shares of Logitech (Swiss Exchange: LOG.N-CH) soared more than 17 percent Wednesday after the Swiss device maker's quarterly earnings report showed retail sales growth, boosted by new product launches.

Logitech said its sales were $564 million in its fiscal second-quarter, up 9 percent compared to the same period last year. It's retail sales grew 14 percent, helped in part by product launches such as components of living-room entertainment systems with voice control functions.

"Once more this quarter shows our strategy clearly: New product launches that again demonstrate the power of our innovation engine, ongoing operational excellence, and profitable growth across all our regions and in almost all our market opportunities," CEO Bracken Darrell said in a statement.

The company confirmed its outlook in the full fiscal year 2017 for 8 to 10 percent retail sales growth in constant currency and $195 million to $205 million in non-GAAP operating income.

The company's stock is up more than 67 percent year to date.

— Reuters contributed to this report.



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