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Fitbit: 2Q Earnings Snapshot

July 31, 2019

SAN FRANCISCO (AP) _ Fitbit Inc. (FIT) on Wednesday reported a loss of $68.5 million in its second quarter.

On a per-share basis, the San Francisco-based company said it had a loss of 27 cents. Losses, adjusted for stock option expense and pretax expenses, were 14 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.

The wearable device maker posted revenue of $313.6 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $312.5 million.

For the current quarter ending in October, Fitbit expects its results to range from a loss of 11 cents per share to a loss of 9 cents per share.

The company said it expects revenue in the range of $335 million to $355 million for the fiscal third quarter.

Fitbit expects full-year results to range from a loss of 38 cents per share to a loss of 31 cents per share, with revenue ranging from $1.43 billion to $1.48 billion.

In the final minutes of trading on Wednesday, the company’s shares hit $4.19. A year ago, they were trading at $5.93.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FIT at https://www.zacks.com/ap/FIT

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