SCHAFFHAUSEN, Switzerland (AP) — SCHAFFHAUSEN, Switzerland (AP) — Garmin Ltd. (GRMN) on Wednesday reported second-quarter profit of $541.9 million.
The Schaffhausen, Switzerland-based company said it had net income of $2.80 per share. Earnings, adjusted for one-time gains and costs, came to $2.81 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.27 per share.
The maker of personal navigation devices posted revenue of $2.02 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.93 billion.
Garmin expects full-year earnings to be $10 per share, with revenue expected to be $8.05 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GRMN at https://www.zacks.com/ap/GRMN
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