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Investing.com -- Logitech (SIX:LOGN) International (NASDAQ:LOGI) reported first quarter fiscal 2026 earnings that significantly exceeded analyst expectations, driving shares up 2.5% as investors responded positively to the company’s strong performance amid challenging market conditions.
The computer peripherals maker posted adjusted earnings per share of $1.26, substantially beating the analyst estimate of $1.01. Revenue came in at $1.15 billion, surpassing the consensus estimate of $1.13 billion and representing a 5% increase YoY in both US dollars and constant currency.
"We delivered a strong first quarter - an encouraging start to the new fiscal year that underscores Logitech’s resilience in a challenging environment," said Hanneke Faber, Logitech chief executive officer. "Our growth was driven by our strategic priorities and strong demand."
Despite a decrease in gross margins, with non-GAAP gross margin falling 120 basis points to 42.1% compared to the same quarter last year, the company managed to expand its non-GAAP operating margin by 80 basis points. Non-GAAP operating income rose 11% to $202 million.
For the second quarter of fiscal 2026, Logitech provided guidance of $1.145-1.19 billion in revenue, representing growth of 3-7% in US dollars or 1-5% in constant currency. The midpoint of this guidance range ($1.1675 billion) is slightly above the analyst consensus of $1.162 billion.
"Through our focus on playing offense, controlling costs and being agile, we delivered mid-single-digit sales growth year over year," noted Matteo Anversa, Logitech’s chief financial officer.
The company returned $122 million to shareholders through share repurchases during the quarter and ended the period with a cash balance of $1.5 billion. Cash flow from operations was $125 million.
Logitech reported strong performance across all regions, with particularly robust results in Asia Pacific, and growth in both business-to-business and consumer channels.
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