Garmin Surpasses Q4 Revenue Forecast
Garmin delivered a strong fourth-quarter performance with significant revenue and profit growth, surpassing market expectations.
Garmin (NYSE:GRMN), known for its leadership in GPS technology across varied segments like fitness, outdoor, aviation, marine, and automotive, released its fourth-quarter 2024 earnings on Feb. 19.
The results certainly turned heads, with Garmin posting revenue of $1.82 billion compared to the expected $1.70 billion. This signifies a notable 23% increase year-on-year. The Pro Forma EPS incidentally grew to $2.41, beating the analysts' estimate of $2.05, recording an impressive 40% rise from the corresponding period in the prior year.
The company’s robust quarterly performance points to significant execution on business strategy despite competitive industry pressures.
