Garmin Results 04/08/2017


Garmin announced its FY17 Q2 result with revenues of $817 million and operating income of $208 million. The quarterly revenues increased by 1% on a yearly basis while the operating margin increased from 24.7% a year ago to 25% in the current quarter.

Revenue growth was driven by sales in the outdoor, aviation, marine and fitness segments, collectively growing 8% on yearly basis and contributing 74% of total revenue. The company said that the demand for advanced wearables was particularly strong, but was partially offset by negative trends in the activity tracker market.

For 2017, the company issued guidance suggesting revenue of approximately $3.04 billion and operating margin of 21%.