Reported about 14 hours ago
Garmin has raised its annual profit outlook to $8.15 per share, surpassing previous estimates, despite reporting increased operating expenses and a drop in revenue from its outdoor and automotive units, which fell by 5% and 2% respectively. Shares fell by 10% in premarket trading due to these results, as the company faces challenges in certain product categories but anticipates benefits from upgrades and new launches.
Source: YAHOO