12:02 PM EDT, 05/01/2024 (MT Newswires) -- (Updates to include Garmin ( GRMN ) stock's recent movement in the headline and first paragraph.)

Garmin ( GRMN ) shares were up more nearly 13% in recent Wednesday trading after it reported higher Q1 non-GAAP earnings and net sales that also topped market expectations.

The The navigation device maker reported fiscal Q1 non-GAAP earnings of $1.42 per diluted share, up from $1.02 a year earlier. Analysts polled by Capital IQ expected $1.01.

Net sales for the quarter ended March 30 were $1.38 billion, up from $1.15 billion a year earlier. Analysts surveyed by Capital IQ expected $1.25 billion.

The company said it continues to expect fiscal 2024 non-GAAP EPS of $5.40 and revenue of about $5.75 billion. Analysts polled by Capital IQ expect adjusted EPS of $5.39 on revenue of $5.74 billion.

Price: 163.13, Change: +18.66, Percent Change: +12.92