Logitech quarterly profit slumps 38%

Logitech International reported a 38 per cent fall in first-quarter profit and cut its full-year 2023 outlook on Tuesday, as the maker of web-cams, speakers and computer mice struggled to match tough comparisons from a year earlier.

The Swiss-American company reported sales of $1.16 billion for the three-month period ended June, down 9 per cent on a constant currency basis. Non GAAP operating income fell 38 per cent to $146 million.