Why Logitech Stock Is Falling Today
Logitech International (NASDAQ: LOGI) stock is slipping in Tuesday's trading. The company's share price was down 2.6% as of 12:15 p.m. ET, according to data from S&P Global Market Intelligence.
Before the market opened this morning, the gaming and computer accessories specialist reported results for the first quarter of its current fiscal year (for the period ended June 30). In addition to delivering sales and earnings results that topped the market's expectations, the company also raised its full-year performance targets. But performance also weakened significantly along one key metric.
Logitech posted non-GAAP (adjusted) earnings per share of $1.13 on sales of $1.1 billion in the first quarter of its current fiscal year. For comparison, the average analyst estimate had called for the business to post per-share earnings of $0.88 on revenue of $1.03 billion.
Source Fool.com
