OLATHE (dpa-AFX) - Shares of Garmin Ltd. (GRMN) are progressing more than 11
percent on Wednesday morning trade after the company reported an increase in
profit supported by double-digit revenue growth.

The company reported third-quarter profit that increased to $257.24 million or
$1.34 per share from $210.85 million or $1.09 per share last year.

Net sales for the quarter increased to $1.277 billion from $1.140 billion a year
ago.

Looking ahead to fiscal 2023, the company expects revenue of approximately
$5.150 billion and pro forma earnings per share of $5.25 per share.

Currently, shares are at $114.22, up 11.39 percent from the previous close of
$102.53 on a volume of 846,177.



Copyright(c) 2023 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX