Logitech’s raised its full year forecast in the wake of its third quarter sales rise which beat analysts’ forecasts.
On Tuesday, Logitech International SA raised its full year profit outlook after reporting a strong growth in its gaming hardware business.
The Swiss-U.S. company got a boost from strong sales of its gaming products such as super fast keyboards, headphones and computer mouse used in multi-player online games like League of Legends and Fortnite.
As per Bracken Darrell, Logitech’s CEO, the company’s diverse portfolio was the growth engine for its double-digit improvements in performance across its video collaboration, gaming, and creativity & productivity, bussineses.
Logitech now expects its fiscal year 2019 non-GAAP operating income to be between $340 million and $345 million, up from its previous guidance of $325 million-$335 million.
Logitech expects its sales to grow between 9% to 11% in constant currency for the fiscal year which runs to the end of March 2019.
In July 2018, Logitech had raised its guidance following a hike in sales of its computer tablets, gaming and video businesses.
For third quarter ended December 31,2018, Logitech had reported a net income of $112.8 million, beating analysts’ forecasts of $99.3 million. In the same quarter, it reported a rise of net sales to $864.4 million beating analysts’ forecasts of $852 million.
Sales from its gaming business saw a rise by 23% to 213.7 million in the third quarter.