Garmin Ltd. (GRMN) on Wednesday reported profit that climbed by 5.5 percent in its second quarter, and topped analysts' expectations.
The Schaffhausen, Switzerland-based company said earnings increased to $182 million, or 93 cents per share, from $172.5 million, or 88 cents per share, in the same quarter a year earlier.
Earnings, adjusted for non-recurring costs, were $1.02 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
The company said revenue climbed 12 percent to $777.8 million from $696.6 million in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $701.7 million, according to Zacks.
Garmin shares have risen $11.39, or 25 percent, to $57.58 since the beginning of the year, while the Standard & Poor's 500 index has climbed 6.6 percent. The stock has climbed $20.32, or 55 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. Full GRMN report: http://www.zacks.com/ap/GRMN