Garmin lifts 2025 results forecast on strong product lineup

(Reuters) -Garmin raised its annual results forecast on Wednesday, banking on strong demand for its GPS-enabled fitness devices and smartwatches.

Shares of the company jumped about 5.5% in premarket trading.

The fitness device maker is benefiting from a strong product lineup, including flagship smartwatches and a range of cycling and indoor training equipment.

The raised forecast marks a recovery from the previous quarter when the Swiss company, which has manufacturing operations in Taiwan, the Netherlands, Poland, China and the U.S., missed profit estimates amid tariff-led uncertainty.

Garmin's high-end wearables cater to professional and niche markets, including defense and sports.

The company now expects full-year revenue of about $7.1 billion, compared with $6.80 billion earlier.

Garmin, which competes with Apple and Samsung in the wearables market, posted second-quarter revenue of $1.81 billion, beating analysts' average estimate of $1.70 billion, according to data compiled by LSEG.

Revenue from its auto original equipment manufacturer segment rose 16% to $170.1 million from a year ago.

The company posted quarterly per share profit of $2.17 on an adjusted basis, beating estimates of $1.89.

(Reporting by Kritika Lamba in Bengaluru; Editing by Sahal Muhammed)