Garmin Ltd. (GRMN) Tops Q2 EPS by 52c, Revenues Beat

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Go back to Garmin Ltd. (GRMN) Tops Q2 EPS by 52c, Revenues Beat

Garmin® reports strong second quarter 2020 revenue and income during the COVID-19 pandemic

July 29, 2020 7:00 AM EDT

SCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)-- Garmin Ltd. (Nasdaq: GRMN News) today announced results for the second quarter ended June 27, 2020.

Highlights for second quarter 2020 include:

Total revenue of $870 million, a 9% year-over-year decrease, as strength in fitness and marine partially offset declines in outdoor, aviation, and automotive Gross margin and operating margin were 59.3% and 21.7%, respectively GAAP EPS was $0.96 and pro forma EPS(1) was $0.91 Recently announced the acquisition of Firstbeat Analytics, a leading provider of physiological analytics technology for health, fitness and athletic performance Introduced solar charging technology into our Instinct® product line... More