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The operating result (non-GAAP) was $589 million, as the Swiss-American company announced Tuesday night. This corresponds to a diver of 35 percent compared to the previous year. GAAP operating income was $458 million, down 41 percent from the prior year.
According to the statement, the fourth quarter closed with sales of $ 960 million, 22% lower than the previous year. Operating income (non-GAAP) fell 47 percent year over year to $82 million. GAAP operating income was $39 million, down 70 percent from the prior year.
In the statement, it was stated that the results are in line with the estimates. Fiscal year 2024 begins on a solid foundation. “Despite the drop in sales, we are significantly larger than before the pandemic,” said company boss Bracken Darrell.
Logitech expects $1.8 billion to $1.9 billion in revenue and non-GAAP operating income of $160 million to $190 million for the first half of 2024.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
