Garmin raises holiday period sales forecast, beats quarterly estimates

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SaltWire's Atlantic regional weather forecast for November 1, 2023 | SaltWire - 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.

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. The company had previously forecast revenue of about $5.05 billion and adjusted earnings of $5.15 per share for the year.

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