Swiss-based computer accessory maker Logitech (SWX: LOGN, NASDAQ: LOGI) reported their fiscal Q3 2020 earnings today showing good results compared to expectations.
For the quarter ending December 2019, the company reported revenues of $903 million, a 5% increase over the same quarter last year in constant currency and slightly higher than analyst expectations of $898 million.
Logitech has significant revenue from both e-sports and PC accessories so the increased interest in e-sports as well as the recent surge in PC sales thanks to equipment upgrades caused by Microsoft ending support for Windows 7 should be positive tailwinds for sales.
In particular, Logitech’s Gaming segment performed very well, showing a 15% growth in sales over the same quarter the previous year. That segment represented 27% of the company’s revenues last quarter.
The company’s EPS also beat expectations with a reported $0.84 earnings per share compared to expectations of just under $0.80.
Logitech International’s stock was trading on 2.76x price to sales and 28.75x price to earnings ratios as of the close of market on Friday both of which are close to the sector averages of 3.33x and 27.62x, respectively.
Logitech stock has also been a fairly good performer over the past year as it has gone up 41% beating both the S&P 500 which was up 27% over the past year and the NASDAQ-100 which had a 35% increase.
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