Fitness Segment Boosts Garmin's Revenue in Q3
Garmin's consolidated revenue increased 12% year-over-year in the third quarter, led by the Fitness segment, which includes cycling products.
Overall consolidated revenue for the period ending Sept. 27 was $1.770 billion, compared with $1.586 billion at the same time last year.
- The Fitness segment increased 30%, from $464 million to $601 million.
- Demand for advanced wearables drove the Fitness increase.
Garmin launched new cycling computers — the Edge 550 and 850 — and introduced coaching plans and cycling metrics to the Edge lineup.
"Looking ahead, we are well positioned for the holiday selling season with a strong lineup of innovative products," said Cliff Pemble, Garmin president and CEO.
Year-over-year net income for the quarter increased slightly from $399 million to $402 million. Earnings per share was roughly the same, inching up from $2.
Based on the first three quarters, Garmin updated its full-year revenue guidance, anticipating revenue of about $7.10 billion.
Author's summary: Garmin's Q3 revenue increases 12% year-over-year.
More News
- Winnipeg councillor pushes for stronger heritage, adaptive reuse policies
- The Sixers appeared to finally run out of energy. Then, Adem Bona happened
- Top batters dismissed for zero as Zimbabwe suffer disappointing T-20 loss to Afghanistan – Nehanda Radio
- This New Spy Thriller Series Took Over Netflix and Hit #3 Overnight
- Afghanistan News Today – Breaking News, Politics, Sports & Live Updates | Ariana News
- Care Center Prepares for Rising Demand | Wake Tech
- Xbox Network and Minecraft Go Down After Major Microsoft Azure Outage | iPhone in Canada
- Canada’s LNG industry is less regulated than you might think
- The Sopranos Almost Had a Disastrously Obvious Main Theme Song
- What is in the ‘national interest?’