Garmin Ltd Q2 adjusted earnings Beat Estimates

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

The company's earnings totaled $184.18 million, or $0.96 per share. This compares with $223.66 million, or $1.17 per share, in last year's second quarter.

Excluding items, Garmin Ltd reported adjusted earnings of $173.74 million or $0.91 per share for the period.

Analysts had expected the company to earn $0.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.9% to $869.87 million from $954.84 million last year.

Garmin Ltd earnings at a glance:

-Earnings (Q2): $173.74 Mln. vs. $220.89 Mln. last year. -EPS (Q2): $0.91 vs. $1.16 last year. -Analysts Estimate: $0.39 -Revenue (Q2): $869.87 Mln vs. $954.84 Mln last year.