Garmin’s response to a cyberattack has been less than stellar, but earnings loom and Wall Street will want answers just as much as customers do.
Garmin’s long-running outage is a case study in how not to handle an IT meltdown and cybersecurity attack and may indicate a longer recovery than expected. You can almost smell the panic as Garmin deals with a ransomware attack that has brought down numerous systems including Garmin Connect, the software that holds data on your runs, workouts and activities as well as production systems and call centers. Meanwhile, the clock is ticking as Garmin is scheduled to report earnings on Wednesday. Customers will want answers, but Wall Street will want more clarity. Garmin’s success story and run of strong quarters is going to be overshadowed by its cyberattack. Based on Garmin’s crisis management since late last Wednesday, things aren’t looking so hot.
