The company beat the analyst consensus estimate of $810.9 million.
Also Read: Trimble Beats Expectations In Q4, Software And Recurring Revenue Drive Growth
Revenue growth was 2% Y/Y on an organic basis in the quarter. Annualized recurring revenue was $2.18 billion, up 7% Y/Y on reported basis and 15% Y/Y on an organic basis.
The GPS navigation maker’s adjusted EPS of 61 cents beat the analyst consensus estimate of 58 cents.
The adjusted gross margin expanded by 340 bps Y/Y to 69.2% in the quarter. Trimble held $290 million in cash and equivalents as of the quarter.
The company projects second-quarter revenue of $815 million-$845 million, versus $826.5 million analyst estimate and adjusted EPS of 59-65 cents, versus the 61-cent consensus estimate.
Price Action: Trimble shares are up 2.6% at $65.00 at last check Wednesday.
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