Garmin reports record second quarter revenue and profits; raises guidance
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Garmin Ltd. (GRMN) Tops Q2 EPS by 15c, Revenues Beat; Raises FY19 EPS/Revenue Guidance Above Consensus
July 31, 2019 7:13 AM EDTGarmin Ltd. (NASDAQ: GRMN) reported Q2 EPS of $1.16, $0.15 better than the analyst estimate of $1.01. Revenue for the quarter came in at $955 million versus the consensus estimate of $929.68 million.
Highlights for the second quarter 2019 include:
Record second quarter revenue of $955 million, a 7% increase, with aviation, marine, fitness and outdoor collectively increasing 12% over the prior year quarterGross margin of 60.3% compared to 58.5% in the prior year quarterOperating margin of 26.8% compared to 24.3% in the prior year... More