Garmin (GRMN) Falls Despite Better-Than-Expected Results
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Despite much-better-than-expected results this morning, Garmin Ltd. (Nasdaq: GRMN) can not hold up. Shares are down 8.8% now, after opening higher.
Comments on the conference call that the G60 roll-out at AT&T has been slow could be contributing to the weakness.
Garmin reported Q3 earnings of $1.02 per share, above the consensus of $0.69 and $0.87 last year. Revenues fell 10% to $781 million, versus the consensus of $703.9 million.
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