Logitech CEO Says Sales Up on WFH, Sees Streaming, Esports Growing
Streaming and creating are poised for long-term growth, Logitech CEO Bracken Darrell told investors, referencing podcasts and the rise of creators on TikTok and Instagram, which demonstrate the “democratization of digital content.” The trends that grew during the pandemic will…
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.
“surely grow after the pandemic,” he said Tuesday. Logitech’s Q3 sales growth -- more than the total growth for the past three years combined -- rode work-at-home and spectator gaming trends, said the CEO. Sales soared 85% year on year to $1.67 billion, and operating income jumped 248% to $448 million in the quarter ended Dec. 31. Darrell said that while meeting with about 60 CEOs this week, the “vast majority” indicated they will adopt hybrid work “as the new norm.” A global trend toward spectator gaming continued, Darrell said, noting that over 1 billion people watched a part of the League of Legends final last quarter, and over 100 million watched the final game live, the same number of viewers as the Super Bowl had last year.