Logitech Reports Record Revenue on Gaming, Video Calls, Content 'Explosion'
Video collaboration and gaming fueled Q1 growth at Logitech, said CEO Bracken Darrell on a Tuesday earnings call. Revenue grew 9 percent to $2.79 billion, a company record, it said. Trends fueling growth, said Bracken, include the movement toward equipping…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
offices for cloud-based video calls, surging, growth of PC game play, and associated peripherals, and the “explosion of content creators.” Content is being created by professionals and by consumers in a "Starbucks" or a bedroom, dorm room or outdoors “right now,” said Bracken. He cited an employee’s five-year-old niece is infatuated with YouTube videos from a seven-year-old boy whose Ryan ToysReview show pulled in $22 million last year. Content creators edit, stage and format at a desk using a PC -- and peripherals Logitech sells -- such as a keyboard, mouse, webcam and microphone. Logitech's PC peripherals business has grown for six consecutive years without “specifically designing for that user,” he said. Vincent Pilette, chief financial officer, is leaving Logitech at the end of May to pursue a senior role at an undisclosed company, said Darrell. Nate Olmstead, who joined as vice president-finance this year, will be interim chief financial officer.