Garmin & Spotify – Great Financial Results announced

Garmin Instinct ReviewGarmin has just released their Q2 results and happily state

We are very pleased with the results we have delivered thus far, giving us the confidence to raise our full year 2019 revenue and EPS guidance.

To actually increase guidance to analysts for sales/profits is normally good for the share price, perhaps someone can explain this one to me.

Year-on-year change for the six months-to-date show FITNESS sales up by 10% and OUTDOOR sales up by 5%. Normally this blog would associate the former with FORERUNNERS and the latter with FENIX watches but Garmin points to wider successes with TACX (as well as ‘running’) and to strong demand for golf products as well as the Instinct.

 

Meanwhile, Spotify has noted 29% YY growth on their active user base and have also outperformed the upper ends of the earlier investor guidance. But actual PAYING users was a mere 108 million Premium Subscribers globally (!!) which was in line with midpoint expectations.

 

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