Logitech’s Q2 results were a strong beat versus the Bloomberg consensus across the board. Sales were higher than expected on somewhat improved demand dynamics qoq and, while a marginal profitability beat had been expected by the consensus, the beat on the gross margin was exceptional. This was the result of cost improvements and lower promotional activity. Operating expenses reduced in tandem with sales and helped deliver a very strong operating income beat. Logitech raised its FY24 targets to a ....
