Garmin Ltd Q2 Profit Increases, beats estimates

(RTTNews) - Garmin Ltd (GRMN) released earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $287.94 million, or $1.50 per share. This compares with $257.87 million, or $1.33 per share, in last year's second quarter.

Excluding items, Garmin Ltd reported adjusted earnings of $278.10 million or $1.45 per share for the period.

Analysts on average had expected the company to earn $1.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.5% to $1.32 billion from $1.24 billion last year.

Garmin Ltd earnings at a glance (GAAP) :

-Earnings (Q2): $287.94 Mln. vs. $257.87 Mln. last year. -EPS (Q2): $1.50 vs. $1.33 last year. -Analyst Estimate: $1.41 -Revenue (Q2): $1.32 Bln vs. $1.24 Bln last year.

-Guidance: Full year EPS guidance: $5.15 Full year revenue guidance: $5.05 Bln