Business Corpus: Esports, Video Conferencing Trends Fuel Logitech GainsComputer peripherals maker Logitech International saw its stock soar on Thursday after it posted better-than-expected March-quarter results and gave rosy guidance for the year ahead. The post Esports, Video Conferencing Trends Fuel Logitech Gains appeared first on Investor's Business Daily.

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Computer peripherals maker Logitech International (LOGI) saw its stock soar on Thursday after it posted better-than-expected March-quarter results and gave rosy guidance for the year ahead.

Logitech shares jumped 8.9% to close at 39.99 on the stock market today. The stock broke out of a 26-week consolidation period with a buy point of 40.92 on Jan. 23 after it reported robust sales and earnings for the holiday quarter. But the stock sold off after the market turned choppy.

The maker of music, gaming, video and computing products on Thursday reported adjusted earnings per share of 32 cents, up 7% year over year, for its fiscal fourth quarter. Sales climbed 16% to $592 million. Analysts expected Logitech to earn an adjusted 23 cents a share on sales of $556 million.

For the current fiscal year, Logitech expects high single-digit sales growth, confirming its prior guidance.

Logitech Chief Executive Bracken Darrell credited strong sales of video collaboration gear for business-to-business communication as well as gaming peripherals for its outsize performance last quarter.

"The fun categories to talk about are gaming and video collaboration," he told Investor's Business Daily. "It's such an exciting time in gaming."

Video gaming peripherals such as audio headsets, PC keyboards and mice have gotten a boost from the rapid growth of esports, Darrell said.

The rise of esports feels a lot like the early days of the NBA and NFL sports leagues, he said. Darrell noted professional video game leagues for "League of Legends" from Tencent (TCEHY) and "Overwatch" from Activision Blizzard (ATVI).

Young people are playing these games and others in online competitions and want to emulate their favorite professional players by buying pro gear, he said.

Logitech stock has a middling IBD Composite Rating of 66 out of a best-possible 99. It is the top-rated stock in the downtrodden computer hardware and peripherals industry group.

The post Esports, Video Conferencing Trends Fuel Logitech Gains appeared first on Investor's Business Daily.