What happened Garmin (NASDAQ: GRMN) shareholders outperformed a rallying stock market last month. Shares rose 11% in May compared to a 4.5% increase in the S&P 500, according to data provided by S&P Global Market Intelligence. The uptick put shares at roughly even through the first five months of 2020 despite having been lower by 36% in mid-March. Image source: Getty Images. So what Investors celebrated the GPS device giant's first-quarter earnings report, which on April 29 revealed solid momentum heading into the COVID-19 crisis. Revenue rose 12% overall as popular launches in its fitness and smartwatch categories more than offset continued declines in automotive navigation. Garmin's booming marine and aviation segment, meanwhile, helped push profitability to new highs, leading to a 17% spike in operating income. Now what CEO Cliff Pemble and his team withdrew their 2020 guidance while warning that the COVID-19 situation would surely affect its short-term results. Investors will see those pressures when the tech specialist makes its next earnings update in late July. Over the long term, though, executives say they're optimistic about an eventual return to normal. Three consecutive years of strong sales growth, hit product launches, and improving profit margins support that bullish reading of Garmin's business. 10 stocks we like better than GarminWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Garmin wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Demitrios Kalogeropoulos has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source