Logitech's revenue rose 7% to $1.34 billion in the quarter to Dec 31, 2024, with gaming sales up 14%

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Logitech filed its 10-Q, the quarterly report a US-listed company files with US regulators, on Jan 29, 2025, for the quarter ended Dec 31, 2024. It had announced the results for the third quarter of its Fiscal Year 2025 on Jan 28, 2025, under a headline that called it a fourth consecutive quarter of sales growth. Revenue was $1.34 billion, up 7% from $1.26 billion a year earlier. Operating income, the profit from running the business before interest and tax, was $234.56 million against $222.08 million, up 6%. Net income was $200.15 million against $244.68 million, down 18%, and diluted earnings per share were $1.32 against $1.55.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12^,13^,14^,15

The 10-Q showed an income tax provision of $45.1 million for the quarter against a benefit of $9.6 million a year earlier. It said the year-earlier quarter included a $25.1 million income tax benefit, net of an assessment of uncertain tax positions, from remeasuring the tax basis of goodwill under Swiss tax reform.16^,17

Gaming sales were $466.72 million, up 14% from $409.04 million, and the 10-Q said the category included streaming services revenue generated by Streamlabs. The 10-Q credited the 7% rise in total sales primarily to Gaming and Tablet Accessories. Logitech's own non-GAAP operating income, a measure that left out share-based compensation, amortization of intangible assets, acquisition-related costs and other items, was $266 million, up 7%. The company raised its Fiscal Year 2025 outlook for sales to $4.54 - $4.57 billion, which it put at growth of 5.4% to 6.4% in US dollars, against 2% to 4% before.18^,19^,20^,21^,22^,23^,24^,25

On Jan 27, 2025, after the quarter ended, Logitech entered into an unsecured revolving credit facility of up to $750 million, and the 10-Q reported no borrowing under it as of Jan 29, 2025.26^,27^,28

Our records hold revenue, operating income, net income and diluted earnings per share for the quarter to Dec 31, 2024 and the text of the filing's management discussion and notes, and keep one value for each period of an SEC filer, so they cannot tell whether the year-earlier figures were restated.29^,30^,31