Logitech Stock Falls As Sales Decline For Ninth Straight Quarter

Logitech International (LOGI), a maker of peripherals for personal computers and mobile devices, surpassed analyst expectations for its fiscal third quarter. However, the company experienced a ninth consecutive quarterly decline in sales compared to the previous year. The news caused Logitech’s stock to drop on Tuesday. Despite the sales decline, Logitech reported a 34% increase in earnings year-over-year. The company’s guidance for the fourth quarter aligns with analyst expectations, projecting a 1% increase in sales. The CEO, Hanneke Faber, expressed satisfaction with the third-quarter results but emphasized the company’s commitment to returning to top-line growth. Logitech’s stock fell 10.5% in morning trades.