Investing.com -- Garmin (NYSE: GRMN) shares rose 6.29% Thursday following first quarter results that exceeded Wall Street expectations on both revenue and profit.

The company reported revenue of $1.75 billion for the quarter ended March 28, up 14% YoY and above the analyst consensus of $1.72 billion. Adjusted earnings per share came in at $2.08, beating estimates of $1.82 per share and marking a 29% increase from the prior year period.

Operating margins expanded to 24.6%, up 293 basis points YoY.

Despite the strong quarterly performance, Garmin maintained its fiscal 2026 revenue outlook at $7.9 billion, below the analyst consensus of $7.97 billion. The company also kept its full-year earnings per share guidance at $9.35, in line with Wall Street estimates.

Bank of America analysts noted that "the results were strong" but reiterated their Underperform rating on the stock. "We continue to see GRMN as fully priced," the analysts commented, despite the first quarter beat on both revenue and earnings metrics.

The quarterly results showed broad strength across Garmin's business segments, with the double-digit revenue growth reflecting continued demand for the company's products. The margin expansion indicated improved operational efficiency during the period.