Garmin reported third-quarter revenue of $1.99 billion, up 12% year over year, as demand for fitness wearables and adventure watches strengthened two of its consumer businesses.
The October 28 company release covers the quarter ended September 26. Operating income increased 34% to $612 million, with a 30.8% operating margin.
Fitness revenue rose 16%, led by wearables, and produced $231 million in operating income. Outdoor revenue increased 20%, primarily driven by adventure watches, with operating income of $233 million.
The company raised its full-year guidance. Its consolidated results also include aviation, marine and other businesses.
