Garmin Ltd Q2 Profit Increases, Beats Estimates

(RTTNews) - Garmin Ltd (GRMN) revealed a profit for its second quarter that Increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $400.82 million, or $2.07 per share. This compares with $300.63 million, or $1.56 per share, last year.

Excluding items, Garmin Ltd reported adjusted earnings of $420.45 million or $2.17 per share for the period.

Analysts on average had expected the company to earn $1.9 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 19.9% to $1.81 billion from $1.51 billion last year.

Garmin Ltd earnings at a glance (GAAP) :

-Earnings: $400.82 Mln. vs. $300.63 Mln. last year. -EPS: $2.07 vs. $1.56 last year. -Revenue: $1.81 Bln vs. $1.51 Bln last year.

-Guidance: Full year EPS guidance: $8.00 Full year revenue guidance: $7.1 Bln