Shares of Garmin (NYSE: GRMN) surged 9.29% in pre-market trading on Wednesday, following the release of the company's second-quarter financial results that surpassed Wall Street expectations.
The company reported adjusted earnings per share of $2.81, significantly exceeding the analyst consensus estimate of $2.25. Revenue for the quarter came in at $2.022 billion, also beating the $1.899 billion estimate. Both figures represented double-digit growth compared to the same period last year, with earnings rising 29.49% and sales increasing 11.40%.
The strong quarterly performance underscores robust demand across Garmin's product segments, driving investor confidence and the sharp upward movement in the stock price ahead of the regular trading session.