Logitech raises annual outlook on upbeat quarterly profit

On Tuesday, Logitech International raised its year-on-year outlook as it also reported an upbeat quarterly operating income. The company increased its forecast mainly from a coronavirus-driven surge in demand as more people purchased work-from-home and gaming equipment.

The computer peripherals and software maker raised its 2021 outlook for sales and profit for the third time. Currently, the company anticipates sales growth to jump between 57% and 60%, with its adjusted operating income now at $1.05 billion.

The company had seen an increase in video conferencing devices and gaming peripherals sales as more people started working from home due to the restrictions brought by the coronavirus. Meanwhile, virus-restrictions imposed on cinemas and other facilities greatly supported gaming console sales.