Logitech Lowers Profit Outlook On Coronavirus Concerns
Logitech International (NASDAQ: LOGI) has experienced strong growth from its video collaboration and gaming business, but on Tuesday, the company warned that the outbreak of COVID-19 will ding its operating profit in the short term.
While management reaffirmed its net sales outlook, they lowered the outlook for operating profit for fiscal 2020 to a range of $365 million to $375 million on a non-GAAP basis. This is only slightly down from the previous range of $375 million to $385 million.
Image source: Logitech International.
Source Fool.com
