Garmin Outdoor and Exercise Segments Grow Double Digits
GRMN’s fitness segment saw Q1 sales improve 12% to $384,722,000 from $342,892,000 on continued strong demand for its wearables. During the quarter, the company announced the premium Garmin Connect+ is on the horizon, which includes AI insights for users and enhanced live tracking. Segment gross margin was flat at 57%, while operating income increased 14% to $77,712,000, with margins holding flat at 20%. Revenues from the outdoor segment ... Log in to view full article.
