Garmin: Q2 Earnings Snapshot
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.