Fitbit (FIT) Tops Q2 EPS by 7c; Guides In-Line
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Fitbit Reports $353M in Revenue, Sells 3.4M Devices in Q2’17, Up 14% Sequentially
August 2, 2017 4:06 PM EDTSAN FRANCISCO--(BUSINESS WIRE)-- Fitbit, Inc. (NYSE: FIT), the leading global wearables brand, today reported revenue of $353 million, GAAP net loss per share of ($0.25), non-GAAP net loss per share of ($0.08), GAAP net loss of ($58.2) million and Adjusted EBITDA loss of ($28) million for its second quarter of 2017.
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... More
