Garmin Ltd (GRMN) released earnings for its second quarter that increased from last year and beat the Street estimates.
The company's bottom line totaled $287.94 million, or $1.50 per share. This compares with $257.87 million, or $1.33 per share, in last year's second quarter.
Excluding items, Garmin Ltd reported adjusted earnings of $278.10 million or $1.45 per share for the period.
Analysts on average had expected the company to earn $1.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 6.5% to $1.32 billion from $1.24 billion last year.
Garmin Ltd earnings at a glance (GAAP) :
-Earnings (Q2): $287.94 Mln. vs. $257.87 Mln. last year.
-EPS (Q2): $1.50 vs. $1.33 last year.
-Analyst Estimate: $1.41
-Revenue (Q2): $1.32 Bln vs. $1.24 Bln last year.
-Guidance:
Full year EPS guidance: $5.15
Full year revenue guidance: $5.05 Bln
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