Garmin's Q2 Earnings: Revenue And EPS Beat, Strong Performance in Fitness And Marine Segments, Annual Outlook Hiked
Portfolio Pulse from Anusuya Lahiri
Garmin Ltd (NYSE:GRMN) reported strong Q2 2024 earnings, with revenue and EPS beating analyst estimates. The company saw significant growth in its Fitness and Marine segments, leading to an increased annual revenue outlook. Despite a slight decline in gross margin, the operating margin improved. Garmin's stock has gained over 69% in the last 12 months but traded lower by 2.70% recently.
July 31, 2024 | 1:38 pm
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Garmin Ltd reported strong Q2 2024 earnings, with revenue and EPS beating analyst estimates. The company saw significant growth in its Fitness and Marine segments, leading to an increased annual revenue outlook. Despite a slight decline in gross margin, the operating margin improved. Garmin's stock has gained over 69% in the last 12 months but traded lower by 2.70% recently.
Garmin's strong Q2 earnings and increased annual outlook are positive indicators for the stock. The significant growth in key segments like Fitness and Marine suggests robust business performance. However, the recent 2.70% decline in stock price may be due to profit-taking or market volatility.
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