Garmin: Q2 Earnings Snapshot

July 27, 2022 GMT

SCHAFFHAUSEN, Switzerland (AP) _ Garmin Ltd. (GRMN) on Wednesday reported second-quarter profit of $257.9 million.

The Schaffhausen, Switzerland-based company said it had net income of $1.33 per share. Earnings, adjusted for non-recurring costs, were $1.44 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.

The maker of personal navigation devices posted revenue of $1.24 billion in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $1.36 billion.

Garmin expects full-year earnings to be $4.90 per share, with revenue expected to be $5 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GRMN at https://www.zacks.com/ap/GRMN