Consumer Electronics Maker Garmin Crushes First-Quarter Estimates

Outdoor recreation, fitness and navigation device maker Garmin (GRMN) on Wednesday crushed Wall Street’s targets for the first quarter. But Garmin stock dropped in early trading.


The Olathe, Kan.-based company earned an adjusted $1.18 a share on sales of $1.07 billion in the March quarter. Analysts expected Garmin earnings of 89 cents a share on sales of $937.7 million. In the year-earlier period, Garmin earnings were 91 cents a share on sales of $856.1 million.

In premarket trading on the stock market today, Garmin stock fell 0.3%, near 140.70.

On April 5, Garmin stock broke out of a flat base at a buy point of 133.53, according to IBD MarketSmith charts. It ended the regular session Tuesday just above the 5% chase zone of its breakout. Earlier in the session Tuesday, Garmin stock notched an all-time high of 142.94.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.


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