• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
TechGarmin

Garmin Tops Wall Street Estimates, Fueled by Outdoor Gadget Sales

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
August 2, 2017, 10:15 AM ET

Garmin (GRMN), a maker of GPS-based gadgets, reported a better-than-expected quarterly profit on Wednesday, as robust sales of its outdoor products more than offset tepid demand for its fitness and automobile devices.

Shares of the company rose 6.6% to $53.29 in premarket trading.

Net sales in Garmin’s outdoor business, surged 46.3% to a record $194.8 million in the second quarter July 1 and marked the seventh straight quarterly increase. The business includes products such as pet trackers and the Fenix and Approach series of sports watches.

Switzerland-based Garmin also raised its annual revenue forecast to $3.04 billion from $3.02 billion.

However, sales in Garmin’s auto products business, its biggest, dipped 15.2% to $208.5 million.

Get Data Sheet, Fortune’s technology newsletter.

Demand in the auto business has been declining for years amid a slowdown in the personal navigation devices market.

Sales from Garmin’s fitness device business also fell about 15% amid stiff competition from makers of smartwatches and wearable health trackers such as Fitbit (FIT) and Apple (AAPL).

Net income attributable to Garmin rose to $171 million, or 91 cents per share in the second quarter, from $161.1 million, or 85 cents per share, a year earlier.

On a pro-forma basis, the company earned 88 cents per share, beating analysts’ average estimate of 81 cents, according to Thomson Reuters I/B/E/S.

Revenue rose slightly to $816.9 million. Analysts had expected $807.7 million.

About the Author
By Reuters
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

tiktok
CybersecuritySocial Media
Gen Z are rebelling against TikTok USA by installing another app—founded by an Oracle alum
By Nick LichtenbergFebruary 5, 2026
44 minutes ago
Amodei
Big TechBattle for Talent
Tech giants are shelling out up to $400k for AI evangelists to defend against surging American skepticism
By Jake AngeloFebruary 5, 2026
3 hours ago
Amazon CEO Andy Jassy
AIEye on AI
Hey Alexa—Amazon may be teaming up with OpenAI. Here’s why that matters
By Sharon GoldmanFebruary 5, 2026
3 hours ago
Palmer Luckey,
SuccessCareers
Forget a degree—$30 billion defense startup Anduril will fast-track your job application if you can win its AI drone flying contest
By Preston ForeFebruary 5, 2026
4 hours ago
lewis, lee
InvestingMarkets
Michael Lewis and Tom Lee hold court on the $1 trillion software-stock carnage: ‘I think fear is not a bad thing to be long right now’
By Nick LichtenbergFebruary 5, 2026
5 hours ago
Sam Altman OpenAI CEO, standing with his arms folded.
AIOpenAI
ChatGPT’s market share is slipping as Google and rivals close the gap, app-tracker data shows
By Beatrice NolanFebruary 5, 2026
5 hours ago

Most Popular

placeholder alt text
Economy
Trump may have shot himself in the foot at the Fed, as Powell could stay on while Miran resigns from White House post
By Eleanor PringleFebruary 4, 2026
1 day ago
placeholder alt text
Politics
Peter Thiel warns the Antichrist and apocalypse are linked to the ‘end of modernity’ currently happening—and cites Greta Thunberg as a driving example
By Nick LichtenbergFebruary 4, 2026
1 day ago
placeholder alt text
Success
After decades in the music industry, Pharrell Williams admits he never stops working: ‘If you do what you love everyday, you’ll get paid for free'
By Emma BurleighFebruary 3, 2026
2 days ago
placeholder alt text
Investing
Tech stocks go into free fall as it dawns on traders that AI has the ability to cut revenues across the board
By Jim EdwardsFebruary 4, 2026
1 day ago
placeholder alt text
Commentary
I've studied nonviolent resistance in war zones for 20 years and Minnesota reminds me of Colombia, the Philippines and Syria
By Oliver Kaplan and The ConversationFebruary 3, 2026
2 days ago
placeholder alt text
Investing
Ray Dalio warns the world is ‘on the brink’ of a capital war of weaponizing money—and gold is the best way for people to protect themselves
By Sasha RogelbergFebruary 4, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.