Garmin (NASDAQ:GRMN) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Garmin announced earnings per share of $0.91 on revenue of $856.1M. Analysts polled by anticipated EPS of $0.86 on revenue of $830.33M. That with comparison to EPS of $0.73 on revenue of $766.05M in the same period a year before. Garmin had reported EPS of $1.29 on revenue of $1.1B in the previous quarter. Analysts are expecting EPS of $1.14 and revenue of $1.02B in the upcoming quarter.
Garmin shares are down 14% from the beginning of the year , still down 21.01% from its 52 week high of $105.58 set on February 19. They are under-performing the Nasdaq (NASDAQ:NDAQ) which is down 4.78% year to date.
Garmin follows other major Technology sector earnings this month
Garmin's report follows an earnings missed by Alphabet C on Tuesday, who reported EPS of $9.87 on revenue of $41.16B, compared to forecasts EPS of $10.26 on revenue of $40.99B.
Alphabet A had missed expectations on Tuesday with first quarter EPS of $9.87 on revenue of $41.16B, compared to forecast for EPS of $10.71 on revenue of $40.99B.
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