Despite Fitness growth, Garmin revenue decreases 2% in Q1

May 3, 2023

Garmin Ltd. first-quarter revenue decreased 2% year-over-year despite its Fitness segment revenue increasing 11%.

Overall company revenue was $1.15 billion for the period ending April 1, compared with $1.17 billion at the same time last year. Fitness revenue — including bike GPS head units and accessories, power meter pedals, and Tacx stationary trainers — was $245 million, compared with $221 million at the same time last year. Bicycle Retailer