Garmin Ltd Q2 Profit Increases, Beats Estimates

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

The company's bottom line came in at $300.63 million, or $1.56 per share. This compares with $287.94 million, or $1.50 per share, in last year's second quarter.

Excluding items, Garmin Ltd reported adjusted earnings of $304.60 million or $1.58 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 14.1% to $1.507 billion from $1.321 billion last year.

Garmin Ltd earnings at a glance (GAAP) :

-Earnings (Q2): $300.63 Mln. vs. $287.94 Mln. last year. -EPS (Q2): $1.56 vs. $1.50 last year. -Revenue (Q2): $1.507 Bln vs. $1.321 Bln last year.