EOS and accessories vendor Logitech has once again delivered exceptional quarterly sales, along with double-digit profit growth.
For Q2 2019, sales rose 10% in constant currency to a record level of $691 million, driven by growth in Gaming (+43%), Video Collaboration (+25%) and Tablets & Other Accessories (+20%). Adjusted operating profit was $85 million, a rise of 18% compared to the year-ago period.
However, not all divisions saw growth for three months ended 30 September 2018. Smart Homes fell 49%, Mobile Speakers dropped 14% on improving trends and new product transitions, while Audio & Wearables were flat.
Broken down, sales in the Americas grew 9% to $284 million driven by strong sales in Gaming, Video Collaboration and PC Peripherals, which more than offset weakness in Mobile Speakers and Smart Home. Sales in EMEA were flat at $218 million as the company continues to reset and position for growth.
Asia Pacific reported double-digit sales increases of 26%, with almost all categories and countries contributing to the strong performance.
Logitech restated its FY2019 outlook for sales growth of 9-11% in constant currency and adjusted operating profit of $325-$335 million.
For Q2 2019, sales rose 10% in constant currency to a record level of $691 million, driven by growth in Gaming (+43%), Video Collaboration (+25%) and Tablets & Other Accessories (+20%). Adjusted operating profit was $85 million, a rise of 18% compared to the year-ago period.
However, not all divisions saw growth for three months ended 30 September 2018. Smart Homes fell 49%, Mobile Speakers dropped 14% on improving trends and new product transitions, while Audio & Wearables were flat.
Broken down, sales in the Americas grew 9% to $284 million driven by strong sales in Gaming, Video Collaboration and PC Peripherals, which more than offset weakness in Mobile Speakers and Smart Home. Sales in EMEA were flat at $218 million as the company continues to reset and position for growth.
Asia Pacific reported double-digit sales increases of 26%, with almost all categories and countries contributing to the strong performance.
Logitech restated its FY2019 outlook for sales growth of 9-11% in constant currency and adjusted operating profit of $325-$335 million.
