Logitech (LOGI) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Viewpoint - Logitech's stock has underperformed the S&P 500 composite over the past month, returning -8.2% compared to the index's -1.2% change, but it holds a Zacks Rank 2 (Buy), suggesting potential outperformance in the near term [1]. Financial Performance - For the quarter ended June 2024, Logitech reported revenue of $1.09 billion, reflecting an 11.7% increase year-over-year. The earnings per share (EPS) was $1.13, up from $0.65 in the same quarter last year [3]. - The reported revenue exceeded the Zacks Consensus Estimate of $1.03 billion, resulting in a surprise of +5.30%. The EPS also surpassed expectations by +26.97%, with the consensus estimate being $0.89 [6]. Segment Performance - Net Sales in Gaming reached $309.48 million, exceeding the average analyst estimate of $293.90 million, marking a year-over-year increase of +16.2% [5]. - Net Sales for Keyboards & Combos were $215.33 million, surpassing the estimate of $189.65 million, with a year-over-year change of +19.1% [5]. - Net Sales in Pointing Devices amounted to $189.95 million, above the estimate of $181.05 million, representing an +8.9% change year-over-year [5]. - Other segment sales were $30.74 million, slightly above the estimate of $29.94 million [5]. - Webcams reported sales of $72.90 million, below the estimate of $76.54 million, reflecting a -3.1% change year-over-year [5]. - Tablet Accessories achieved sales of $78.54 million, exceeding the estimate of $76.21 million, with an +11.7% year-over-year change [5]. - Headsets generated $44.24 million in sales, surpassing the estimate of $38.29 million [5]. - Video Collaboration sales were $147.04 million, slightly below the estimate of $147.94 million, with a year-over-year increase of +5.5% [5].