Fitbit (FIT) Tops Q2 EPS by 7c; Guides In-Line

Fitbit (NYSE: FIT) reported Q2 EPS of ($0.08), $0.07 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $353 million versus the consensus estimate of $341.57 million.

“Consumer demand in the second quarter was better than anticipated, enabling Fitbit to reduce channel inventory and generate better sales. We are executing according to our transition plan and have increased confidence in achieving our full year results," said co-founder and CEO James Park. “Our smartwatch, which we believe will deliver the best health and fitness experience in the category, is on track for delivery ahead of the holiday season and will drive a strong second half of the year. In the long term, we are confident in our vision for the future and are uniquely positioned to succeed by leveraging our brand, community, and data to drive positive health outcomes.”

GUIDANCE:

Fitbit sees Q3 2017 revenue of $380-400 million, versus the consensus of $393.1 million.

Fitbit sees FY2017 revenue of $1.55-1.7 billion, versus the consensus of $1.61 billion.

For earnings history and earnings-related data on Fitbit (FIT) click here.

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