Diversification delivers strong results
Summary of the Earnings Report
Logitech reported its biggest quarter ever, with sales of over $810M for the quarter, up 18% year-over-year in constant currency despite flat results in EMEA. (When measured without constant currency, the 18% becomes 22%). Growth varied widely between the nine categories in which Logitech reports results, including the video collaboration segment which was flat on a sequential basis but showed strong year-over-year growth – see table below.
The collaboration category includes Logitech group, ConferenceCam Connect, MeetUp, and the BRIO webcam – and still represents less than 10% of total revenues. Operating income on the reported revenue total was $117M.