Garmin (NASDAQ: GRMN) reported Q2 2020 earnings and sales that surpassed the market’s estimates sending its shares up 7% in the pre-market trading session. The company reported an adjusted EPS of $0.91 on sales of $870 million.
Sales dropped 9% in the quarter due to the declining sales in Aviation and Auto segments. On a GAAP basis, earnings declined 18% to $0.96 per share.
Garmin stock could surpass its previous 52 week high ($105.58) if the momentum continues in the today’s regular trading session.