Garmin Ltd. (NASDAQ: GRMN), a number one producer of GPS-enabled digital merchandise, on Wednesday reported a rise in sales and proforma earnings for the fourth quarter of 2024.
Internet sales elevated 23% year-over-year to $1.82 billion within the December quarter, reflecting development throughout all working divisions and geographical segments.
On a professional forma foundation, web revenue was $466.3 million or $2.41 per share within the fourth quarter, in comparison with $330.9 million or $1.72 per share in Q4 2023. In the meantime, reported revenue decreased to $435.7 million or $2.25 per share within the December quarter from $542.1 million or $2.82 per share within the year-ago quarter.
Cliff Pemble, CEO of Garmin, mentioned, “2024 was a yr of outstanding development and achievement for Garmin, leading to document full-year consolidated income and document full-year income in all 5 of our segments, in addition to document full-year consolidated working revenue.”
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