Omicron Could Slow Logitech's Video Collab Business, Says Analyst
Logitech’s global scale and product diversity drove higher-than-expected revenue in fiscal Q3 ’22, Wedbush analyst Michael Pachter wrote investors Wednesday. The company posted revenue of $1.6 billion for Q3 ended Dec. 31 (see 2201250021) vs. the analyst’s $1.5 billion estimate.…
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Wedbush projects a slowdown in video collaboration for fiscal Q4 due to the COVID-19 omicron spread and “reversed or slowing return-to-work trends." Pachter projected an acceleration in Logitech’s video collaboration business throughout the year, but that "could be optimistic,” he said, saying omicron could postpone the category's full potential. Gaming revenue “should remain elevated if people delay return-to-office plans,” he said.