Why Monday Could be a Spicy Day for Logitech
Logitech (NASDAQ: LOGI) investors have some big questions heading into the peripherals giant's upcoming earnings report. Management's last quarterly results disappointed Wall Street, mainly because executives reduced their sales and earnings outlook for the fiscal 2023 year.
Logitech might update that annual forecast again when the company announces fiscal Q1 results on Monday, July 25. That report will also show whether its diverse portfolio of gaming and productivity peripherals is allowing it to continue growing despite shrinking demand in niches like webcams.
Logitech's early May update wasn't well received on Wall Street. Sure, sales grew 4% year over year on top of a 76% spike a year earlier. But sales were down 17% compared to the previous quarter. Demand for video teleconferencing products like webcams plunged as consumers turned their attention back toward in-person meetings and returned to the office.
Source Fool.com
