Garmin: Q1 Earnings Snapshot

April 27, 2022 GMT

SCHAFFHAUSEN, Switzerland (AP) _ Garmin Ltd. (GRMN) on Wednesday reported first-quarter net income of $211.6 million.

The Schaffhausen, Switzerland-based company said it had net income of $1.09 per share. Earnings, adjusted for non-recurring costs, were $1.11 per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The maker of personal navigation devices posted revenue of $1.17 billion in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.14 billion.

Garmin expects full-year earnings to be $5.90 per share, with revenue expected to be $5.5 billion.


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