Garmin's revenue rose 12% to $1.28 billion for the three months ended Sept. 30, compared with analysts' estimate of $1.21 billion, according to LSEG. Sales ...
- Navigation equipment maker Garmin Ltd raised its annual sales forecast for the crucial holiday shopping period as strength in its auto and fitness businesses helped it beat third-quarter revenue estimates.
The company, which closed the acquisition of JL Audio in September, said it now expects revenue of $5.15 billion and adjusted earnings of $5.25 per share. Sales at Garmin's auto original equipment manufacturers segment increased by 59% to $110.2 million in the third quarter, driven by increased shipments of domain controllers to BMW.All of Garmin's segments registered growth in the quarter, except its marine business, which posted a 7% decrease in sales.Canadian Bank Stocks Look Severely Undervalued: Here’s 1 With a 7.6% Yield
Bill Gates' former assistant is the world's 5th-richest person — and he's close to overtaking the Microsoft cofounder -Chip designer Advanced Micro Devices on Tuesday forecast $2 billion in sales in 2024 from a chip that aims to compete with Nvidia in the artificial intelligence market, helping shares recover after a quarterly outlook missed expectations. AMD forecast fourth-quarter revenue and gross margins below Wall Street estimates, hurt by a weak gaming market as well as a decline in demand from some industries for its programmable chips.
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