Fitbit (FIT) Tops Q1 EPS by 3c; Guides Below the Street
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Fitbit sees weak tracker sales hitting second-quarter revenue
May 2, 2018 4:34 PM EDTBy Shariq Khan
(Reuters) - Wearable device maker Fitbit Inc forecast current-quarter revenue below Wall Street estimates on Wednesday as the company expects further sales declines for its fitness tracking devices.
The company's core wearable fitness trackers business has fallen sharply as it faces bigger names with deeper pockets, such as Apple and Samsung, that are relatively new entries in the wearable market but control a large and loyal customer base in electronics.
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