Work from home results in $5B rev for Logitech in FY 2021, – 76% Inc from 2020
Computer peripherals and software makers, Logitech, posted solid numbers for their fiscal year end in March 2021. Based on statistics presented by Trading Platforms, Logitech's international earnings in FY 2021 is up 76% to $5.25B in FY 2020.
Logitech Sets Company Record By Passing $5B Revenue Mark
Among the largest names in the computer applications and peripherals area is Swiss consumer electronics manufacturer, Logitech. Logitech is more especially thought of as one of the main producers of interface and input devices for PCs like computer keyboards and mouse.
Logitech's earnings in their fiscal year which ended in March 2021 equates to $5.25B following undergoing a 76% growth in 2020's earnings amounts. This provides Logitech an astonishing Compound Annual Growth Rate of 21.05% at the five-year period from 2016-2021.
Logitech's most profitable source of revenue is by the Americas region which accounted for an estimated $2.2B in 2021. Earnings from Logitech's Europe, Middle-East and Africa (EMEA) region experienced the maximum increase after an estimated 84% increase in revenue to an estimated $1.7B.
Online Income Soars Closer to $1B Despite Boost in Earning in 2021
Marketing expenses and Research and Improvement (R&D) prices reached their greatest level in the previous five years at 2021. Advertisement spending equates to $450M in FY 2021 compared to just below $300M in 2020. R&D spending equates to $226M after having a 27% rise in 2020's $178M R&D spend.
Regardless of the record high set in spending, Logitech still was able to over double its earnings. Logitech's net earnings in FY 2021 amounted to $947M in comparison to only $450M in 2019.
Rex Pascual, editor in Trading programs, commented: "As lockdowns driven offices to close, people's houses became their own workspaces which spiked demand for consumer electronics and peripherals. With many big companies shifting into a hybrid work model even in a post-pandemic universe, anticipate Logitech to keep its strong momentum at the 'new-normal.''