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Fitbit (FIT) Stock Pops on Q2 Earnings and Revenue Beats

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Fitbit (FIT - Free Report) just released its second-quarter earnings results, posting earnings of $0.07 per share and revenue of $586.5 million.

Currently, FIT has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Fitbit:

1. Beat earnings estimates. The company posted earnings of 7 cents per share (excluding 4 cents from non-recurring items), beating our Zacks Consensus Estimate of $0.04.

2. Beat revenue estimates. The company saw revenue figures of $586.5 million, beating our estimate of $573 million.  

3. In the second quarter, Fitbit sold 5.7 million devices and revenue increased 46% year-over-year.

4. The company announced its guidance for the rest of the year. For the third quarter, Fitbit expects revenue in the range of $490 to $510 million. Our current estimate calls for revenues of $510.71 million. For the full year, Fitbit expects revenue in the range of $2.5 to $2.6 billion. Our current estimate calls for full-year revenue of $2.57 billion.

5. FIT was up $0.95, or 7.22%, to $14.11 as of 4:22 p.m. EST in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at Fitbit’s latest earnings performance:

FITBIT INC Price, Consensus and EPS Surprise

FITBIT INC Price, Consensus and EPS Surprise | FITBIT INC Quote

 

Fitbit Inc. manufactures and markets wearable fitness-tracking devices. The Company's product consists of Fitbit Zip, Fitbit One, Fitbit Flex, Fitbit Charge, Fitbit Charge HR, Fitbit Surge and Aria. It also offers accessories which include bands and clips, charging cables and Fitbit apparel.

Make sure to check back here for our full coverage of Fitbit's second-quarter report!

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