Garmin shares jumped over 5% on the release of the Q2 earnings.
Of interest to me and maybe to you is the following:
- 13 million IQ downloads since the service started in early 2015. I’d be interested to know what percentage are actually used in anger.
- Fitness revenue grew “34% in the quarter driven by wearable devices” (sic) with gross margin constant at 56% and operating margin up from 21% to 25%
- Looking ahead there is “a stronger outlook for our outdoor and fitness segments”