Fitbit (NYSE: FIT) reported Q2 EPS of $0.12, $0.01 better than the analyst estimate of $0.11. Revenue for the quarter came in at $586.5 million versus the consensus estimate of $578.48 million.

Outlook and Guidance

Fitbit’s outlook for the third quarter of 2016 is as follows:

• Revenue in the range of $490 to $510 million
• Non-GAAP gross margin of approximately 48% to 49%
• Adjusted EBITDA in the range of $70 to $80 million
• Non-GAAP diluted net income per share in the range of $0.17 to $0.19
• Non-GAAP diluted share count between 244 and 247 million
• Stock-based compensation expense in the range of $26 to $28 million
• Non-GAAP tax rate of approximately 30%

(Street sees Q3 EPS of 17 cents on revenue of $498.53 million)

Fitbit’s outlook for the full year of 2016 is as follows:

• Revenue in the range of $2.5 to $2.6 billion
• Non-GAAP gross margin of approximately 47%
• Adjusted EBITDA in the range of $430 to $490 million
• Non-GAAP diluted net income per share in the range of $1.12 to $1.24
• Non-GAAP diluted share count between 244 and 250 million
• Stock-based compensation expense in the range of $92 to $97 million
• Non-GAAP tax rate of approximately 30%

(Street sees FY EPS of $1.17 on revenue of $2.58 billion)

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