Fitbit (FIT) Tops Q3 EPS by 3c; Guides In-Line

Fitbit (NYSE: FIT) reported Q3 EPS of ($0.01), $0.03 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $393 million versus the consensus estimate of $391.78 million.

“We continue to execute on our transition plan by delivering on our financial guidance and product roadmap, positioning Fitbit on a path back to growth and profitability,” said James Park, co-founder and CEO of Fitbit. “We believe Fitbit Ionic delivers the best health and fitness experience in the category. It has received the highest customer ratings of any Fitbit product within the first month of sales, giving us confidence in our ability to capture share of the fast-growing smartwatch market. Ionic is also a platform for us to deliver our most powerful health and fitness tools into the market, furthering our mission to make the world healthier.”

GUIDANCE:

Fitbit sees Q4 2017 EPS of ($0.03)-$0.01, versus the consensus of ($0.03). Fitbit sees Q4 2017 revenue of $570-600 million, versus the consensus of $578.1 million.

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

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