Why Garmin Stock Soared Today

Garmin stock surged 16.23% after the navigational device maker raised its full-year revenue and profit forecasts. The company reported 11% year-over-year revenue growth to $2 billion in Q2, driven by 14% growth in marine sales and 25% surge in fitness revenue. Operating income climbed 30% and adjusted EPS increased 29% to $2.81, beating Wall Street estimates of $2.29. Management raised full-year guidance to $8.05 billion in revenue and $10 EPS, citing strong growth in connected fitness and wearables.