LOGI Nasdaq· Logitech International S.A.
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LOGI Nasdaq· Logitech International S.A.
Earnings report Q4 2023

Logitech Reports Slight Decline in Revenue for Q3 FY2024

Segments of revenue

Logitech reported net sales of $1.26 billion for the third quarter of fiscal year 2024, representing a slight decrease compared to the same quarter in the prior fiscal year, which had net sales of $1.27 billion. For the nine months ended December 31, 2023, net sales amounted to $3.29 billion, down from $3.58 billion in the same period last year.


Despite the slight decline in revenue, Logitech demonstrated resilience in its financial performance. The company's gross profit for the quarter was $527 million, showing an increase from $477 million in the previous year's quarter. This improvement can be attributed to effective cost management and optimization of the supply chain. Logitech's management highlighted the continued strong demand for its products, particularly in the gaming and video collaboration categories, which contributed to the overall positive performance.


Logitech faced challenges in its operating expenses during the quarter. Marketing and selling expenses amounted to $189 million, slightly lower than the previous year's quarter. However, research and development expenses increased to $73 million, compared to $66 million in the same period last year. General and administrative expenses also rose to $40 million, reflecting the company's investments in talent and infrastructure. These increased operating expenses impacted Logitech's operating income, which stood at $222 million, up from $177 million in the prior year's quarter but lower than expected.


Logitech's performance in the gaming and video collaboration segments stood out during the quarter. The company experienced strong demand for gaming peripherals, driven by the growing popularity of esports and gaming content creation. Additionally, Logitech's video collaboration products, such as webcams and conference room solutions, continued to benefit from the remote work and hybrid work trends. These segments contributed significantly to Logitech's overall revenue, offsetting the decline in other product categories.


Logitech reported a slight decline in revenue for the third quarter of fiscal year 2024. However, the company demonstrated strength in its gross profit, driven by effective cost management and supply chain optimization. Logitech faced challenges in operating expenses, particularly in research and development and general and administrative expenses. Despite these challenges, Logitech's gaming and video collaboration segments performed well, reflecting the strong demand in these areas. Overall, Logitech's financial performance showcased resilience amidst market uncertainties, positioning the company for future growth opportunities.

Source documents

Form 10-Q  filed on Jan 25, 2024
170 pages scanned

Reference data

Company financials Q4 revenue 1.26B
Analyst estimates Q4 EPS beat by 139.82%
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