Quarterly update including financial information and Recon Research’s opinions and insights.
This note covers the three months ending March 31, 2021.
- Logitech had another exceptional quarter, generating sales of $1.54B, up 117% year over year and down 8% quarter over quarter.
- Operating income grew more than 800% to $295M (compared to $32M a year ago).
- Net income grew to $226M, up from $214M a year ago.
- Video Collaboration sales grew almost 250% to $386M (compared to $111M a year ago) and became the company’s largest business segment for the first time!
- PC Webcam sales increased 260% to $145M (compared to $40M a year ago).