Garmin launches Lily 2 smartwatch with GPS and health features, expecting significant revenue growth.

From Nasdaq.: 2024-10-04 11:17:00

Garmin introduces the Lily 2 Active smartwatch with built-in GPS and health features. The wearable offers a classic design, metal case, and up to nine hours of battery life in smartwatch and GPS mode. Users can track sleep stages, heart rate, energy levels, and more.

Garmin expects a 20% revenue increase in its fitness segment. The company raised its 2024 revenue guidance to $5.95 billion and pro-forma earnings guidance to $6 per share. Analysts estimate a 14.11% year-over-year revenue growth and 8.23% earnings growth in 2024.

Garmin’s continuous product launches boost its top-line growth, positively affecting share price movements. The company’s Venu, Lily, and Vivoactive smartwatch series offer enhanced health and wellness capabilities. Recent product launches include Edge 1050 premium cycling computer and Forerunner 165 Series GPS-running smartwatch.

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Read more at Nasdaq.: Can Garmin’s Launch of Lily 2 Smartwatch Push the Stock Higher?