Shares of GPS navigation-maker Garmin climbed more than 7 percent Wednesday, after the company reported fourth-quarter earnings and revenue that beat forecasts.
The Switzerland-based company reported adjusted earnings of 73 cents per share, topping a Thomson Reuters consensus estimate of 57 cents.
Garmin reported revenue of $861 million for the fourth quarter, also beating Reuters' expectations of $792.9 million.
The firm issued guidance for the full year 2017, saying it expects revenue to reach $3.02 billion, built on growth in its outdoor segment.
Garmin's outdoor business grew 46 percent for the quarter, more than the brand's fitness, marine, aviation and auto categories.
Shares of Garmin have gained more than 11 percent so far this year, almost twice the S&P 500's near 6 percent gain.