Shares of Logitech International jumped in Tuesday morning trading after the Swiss company said that sales and operating profit would contract less than it previously expected in fiscal 2024. At 0835 GMT, Logitech shares traded 9% higher at CHF67.48. Logitech had previously expected an on-year sales decline of 16% to 12%. Logitech had previously forecast an on-year decline of 32% to 15% in operating profit. Non-GAAP operating profit climbed 17% to $183 million in the quarter as the group continued to reduce operating expenses.

Source: Wall Street Journal October 24, 2023 20:51 UTC