Garmin rises on lifting annual results forecast

Garmin's shares GRMN.O rise 2.4% to $245.02 premarket as the navigation device maker lifts FY results forecast

GRMN now expects FY revenue of about $7.1 billion, compared with previous forecast of about $6.80 billion

Forecasts FY pro forma EPS of $8, up from previous forecast of $7.80

For Q2, Garmin posts revenue of $1.81 billion, beating analysts' average estimate of $1.70 billion, according to data compiled by LSEG

Revenue from its auto original equipment manufacturer segment (OEM) rises 16% to $170.1 million from a year ago

Up to last close, stock had risen 16% YTD