Logitech reported a 3% increase in second quarter sales to $1.22 billion, slightly ahead of the $1.21 billion consensus estimate. Growth was primarily driven by the Video Collaboration and Gaming categories, which helped offset a significant decline in Tablet Accessories. While the company maintained profitability momentum with expanded gross margins, management issued a cautious Q3 outlook citing supply chain disruptions from a semiconductor supplier incident.
Key Highlights
- Non-GAAP gross margin expanded 140 basis points to 45.2%, reflecting disciplined cost management and product mix.
- Video Collaboration revenue surged 12% to $188 million, while Gaming grew 8% to $349 million.
- Tablet Accessories sales plummeted 32% year-over-year to $58 million, representing a significant category-specific headwind.
- Management expects a $70 million to $80 million negative impact on Q3 net sales due to a semiconductor supplier facility closure, projecting constant currency growth between -5% and 0%.