GPS-based gadget maker Garmin Ltd reported higher-than-expected quarterly revenue, helped by strong demand for navigational devices used in aircraft and fitness trackers. Shares of Garmin, which also forecast full-year revenue above estimates, rose as much as 19 percent to $41.97 on Wednesday. Revenue from the company’s fitness business, which accounts for nearly 30 percent of total revenue, rose 13.6 percent in the fourth quarter ended Dec. 26.
Quoted from Garmin beats on strong demand for fitness, aviation gadgets on Gadgets News Headlines – Yahoo! News