Logitech Inc. (NASDAQ: (LOGI) stock declined by 0.31% at the last close while the LOGI stock price plunged by 6.80% in the pre-market trading session. Logitech enables everyone to follow their passions by creating experiences that allow them to create, accomplish, and enjoy more. Logitech develops and manufactures devices that connect people through computers, gaming, video, streaming and creation, and music.

LOGI stock’ Financial Highlights

Financial data for the second quarter of Fiscal Year 2022 were released by Logitech International.

• When compared to the same quarter last year, Q2 revenues were $1.31 billion which is an increase of 4% in US dollars and 2% in constant currency.
• GAAP operating income in the second quarter fell 44% to $179 million, compared to $322 million a year ago. When compared to the same quarter a year before, GAAP profits per share (EPS) fell 48 percent to $0.81.
• Non-GAAP operating income in the second quarter fell 40% to $211 million, relative to $354 million a year ago. Non-GAAP EPS in the second quarter fell 44% to $1.05, compared to $1.87 a year earlier.

Bracken Darrell, Logitech president, and chief executive officer commented,

They achieved record revenues in Q2, surpassing last year’s excellent levels by 4% in the quarter and 82 percent when compared to two years ago. In the majority of their important product categories, they also increased their market share. Despite extraordinary supply chain industry headwinds, they are reaffirming their full-year projection. He is optimistic about Logitech’s long-term growth prospects.

Future Outlook

Logitech reported its Fiscal Year 2022 forecast of flat sales growth in constant currency, plus or minus 5%. The non-GAAP operating income will be between $800 million to $850 million.

Moreover,

Today On October 26, 2021, at 8:30 a.m. Eastern Daylight Time, Logitech will have a financial results videoconference to review the results for Q2 Fiscal Year 2022.