Logitech International (LOGI) shares spiked after the PC equipment supplier 😼reported profit﷽ soared and it raised its guidance on lower expenses.

The maker of keyboards and other computer peripherals posted second quarter fiscal 2024 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $1.09, 30% higher than a year ago and almost double what analysts had expected. Sales dropped 8% to $1.06 billion, but were still above forecasts.

Demand for computer accessories has waned since the COVID-19 boom when lockdowns forcedꦅ people to work and attend school at home. However, interim CEO Guy Gecht noted that the company “made great progress toward a return to growth and exceeded our pre-pandemic profit levels.” CFO Chuck Boyton added that Logitech’s “focus on cost ❀discipline with a customer-first mindset is paying off, with share growth in key categories.”

The company now anticipates full-year revenue will be in a range of $4 billion to $4.15 billion, up from its previous outlook of $3.80 billion to $4 billion. It expects 澳洲幸运5官方开奖结果体彩网:operating income🐻 of $525 million to $575 million, compared to its earlier estimate of $400🏅 million to $500 million.

Logitech noted that over the past four months,𝓡 the board has undertaken a global search for a new CꦏEO to replace Bracken Darrell, who left in June after 10 years as head of the firm to “pursue another opportunity.” Logitech said it is “moving closer to finalizing a decision.”

Shares of Logitech were up over 10% in early trading on Tuesday to their highest level in a year and a half following the news.