Garmin Ltd Q1 adjusted earnings Beat Estimates

(RTTNews) - Garmin Ltd (GRMN) announced a profit for its first quarter that rose from the same period last year.

The company's earnings came in at $161.18 million, or $0.84 per share. This compares with $140.17 million, or $0.74 per share, in last year's first quarter.

Excluding items, Garmin Ltd reported adjusted earnings of $175.17 million or $0.91 per share for the period.

Analysts had expected the company to earn $0.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.8% to $856.11 million from $766.05 million last year.

Garmin Ltd earnings at a glance:

-Earnings (Q1): $175.17 Mln. vs. $139.91 Mln. last year. -EPS (Q1): $0.91 vs. $0.73 last year. -Analysts Estimate: $0.84 -Revenue (Q1): $856.11 Mln vs. $766.05 Mln last year.