GRMN

Garmin Ltd Q1 Profit Increases, beats estimates

(RTTNews) - Garmin Ltd (GRMN) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $275.96 million, or $1.43 per share. This compares with $202.33 million, or $1.05 per share, in last year's first quarter.

Excluding items, Garmin Ltd reported adjusted earnings of $274.04 million or $1.42 per share for the period.

Analysts on average had expected the company to earn $1.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 20.0% to $1.38 billion from $1.15 billion last year.

Garmin Ltd earnings at a glance (GAAP) :

-Earnings (Q1): $275.96 Mln. vs. $202.33 Mln. last year. -EPS (Q1): $1.43 vs. $1.05 last year. -Revenue (Q1): $1.38 Bln vs. $1.15 Bln last year.

-Guidance: Full year EPS guidance: $5.40 Full year revenue guidance: $5.75 Bln

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 the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.