Garmin raises holiday period sales forecast, beats quarterly estimates

Garmin's revenue rose 12% to $1.28 billion for the three months ended Sept. 30, compared with analysts' estimate of $1.21 billion, according to LSEG. Sales at Garmin's auto original equipment manufacturers segment increased by 59% to $110.2 million in the third quarter, driven by increased shipments of domain controllers to BMW. Its fitness business grew by 26% to $353 million, led by a strong demand for wearables.