Garmin forecasts higher full-year revenue, shares rise [Reuters]
Garmin Ltd. (GRMN)
Last garmin ltd. earnings: 4/29 07:00 am
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Source: Reuters
Garmin forecasts higher full-year revenue, shares rise | Reuters 2 Min Read (Reuters) - Garmin Ltd reported quarterly results that beat Wall Street estimates on Wednesday on the back of higher demand for its smartwatches and navigation systems and forecast full-year revenue above expectations. Shares of the company rose 4.2 percent to $73.97 in light trading before the bell. Garmin, which started as a navigation device maker, has benefited in recent years from growing demand for smartwatches and other wearable fitness devices that track everything from heart rates and calories to a pet’s movement. The company, which competes with the likes of Apple Inc, Fitbit Inc and TomTom, forecast full-year revenue of about $3.5 billion. Analysts were expecting revenue of $3.43 billion, according to IBES data from Refinitiv. Sales in its outdoor segment, that sells smartwatches to campers and travelers, rose about 25 percent in the quarter. Net income rose to $190.15 million, or $1 per share, in t
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News
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GRMN
Earnings
- 2/21/24 - Beat
GRMN
Sec Filings
- 3/18/24 - Form 4
- 3/15/24 - Form 4
- 3/15/24 - Form 144
- GRMN's page on the SEC website