GRMN

Garmin Gains 11% On Higher Q3 Earnings

(RTTNews) - Shares of Garmin Ltd. (GRMN) are progressing more than 11 percent on Wednesday morning trade after the company reported an increase in profit supported by double-digit revenue growth.

The company reported third-quarter profit that increased to $257.24 million or $1.34 per share from $210.85 million or $1.09 per share last year.

Net sales for the quarter increased to $1.277 billion from $1.140 billion a year ago.

Looking ahead to fiscal 2023, the company expects revenue of approximately $5.150 billion and pro forma earnings per share of $5.25 per share.

Currently, shares are at $114.22, up 11.39 percent from the previous close of $102.53 on a volume of 846,177.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.