SCHAFFHAUSEN, Switzerland (AP) — SCHAFFHAUSEN, Switzerland (AP) — Garmin Ltd. (GRMN) on Wednesday reported first-quarter profit of $276 million.
The Schaffhausen, Switzerland-based company said it had profit of $1.43 per share. Earnings, adjusted for non-recurring gains, came to $1.42 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The maker of personal navigation devices posted revenue of $1.38 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $1.24 billion.
Garmin expects full-year earnings to be $5.40 per share, with revenue expected to be $5.75 billion.
_____
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
For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights.
, source Associated Press News