Logitech, a computer peripherals maker, said on Tuesday that operating profit and sales grew strongly in the first quarter of fiscal 2022, thanks to rising demand for home-based offices.
The company's non-GAAP operating profit doubled to $235 million in the fiscal first quarter to the end of June. Sales rose 66% to $1.31 billion from $792 million a year earlier.
Trends such as working from home and the rise of online games continue to drive Logitech's performance, allowing the company's sales to grow further from the high base driven by last year's epidemic.
The unprecedented surge in demand prompted Logitech to improve its performance guidance five times, while its share price rose 87% in 2020.
On Tuesday, the company left its fiscal year 2022 target unchanged, forecasting full-year non-GAAP operating profit of $800m to $850 million and sales at constant exchange rates will be roughly the same as in the previous fiscal year.