Home / Tech News / Featured Tech News / Logitech raises annual profit estimations after record third quarter sales

Logitech raises annual profit estimations after record third quarter sales

We’re so used to hearing of profit warnings and losses, that it’s a nice change of pace when a technology company beats its own expectations. Thanks to an impressive third-quarter turnover, Logitech International SA has now re-evaluated its full-year profit, increasing between $5 – 20 million.

Logitech’s success has been attributed to a strong growth in the gaming and content creator markets, seeing consumers purchase premium keyboards, headphones and mice to better fare in a competitive environment. Particularly, sustainable games-as-a-service titles like League of Legends, Overwatch and Counter-Strike: Global Offensive have helped, but none more so than Fortnite: Battle Royale, which has seen staggering popularity throughout 2018.

“Our innovative, diverse portfolio drove double-digit growth across Gaming, Video Collaboration, and Creativity & Productivity,” explains Chief Executive Officer Bracken Darrell. “On the back of this powerful performance, we are raising our profit outlook for the year.”

Previously, Logitech expected a non-GAAP full-year turnover between $325 million and $335 million, but a surge in sales has seen this estimate shift to $340 – $345 million. This isn’t the first time that guidance had been re-evaluated, after an uptick in sales saw the estimate increased in July, 2018.

The third quarter is usually Logitech’s bestselling period, however the Swedish firm still saw sales increase by 6 percent in US dollars and 8 percent in constant currency, topping $864 million. This record number has prompted Logitech to re-examine its annual sales projection, which is now believed to see a “9 to 11 percent growth in constant currency.”

 KitGuru Says: These are certainly strong numbers that don’t seem to be slowing down any time soon. I look forward to seeing what Logitech has to bring to the table throughout 2019.

Become a Patron!

Check Also

Valve is ramping up server capacity to deal with Counter-Strike 2 demand

Counter-Strike 2 officially launched this week, replacing CS:GO. As you may expect, this has led …