Fitbit just released its first quarter financial results, posting an adjusted loss of $0.17 per share and revenues of $247.87 million.
Fitbit is currently a Zacks Rank #3 (Hold), which is subject to change based on today’s results. Shares of Fitbit are down 5% over the last year. Fitbit had seen its stock price surge 18% over the last four weeks. However, the company saw its stock price dip marginally on Wednesday to hit $5.46 per share prior to the release of its quarterly earnings results.
Fitbit stock is currently flat in after-hours trading shortly after its earnings report was released.
FIT:
Beat earnings estimates. The company posted an adjusted loss of $0.17 per share, beating the Zacks Consensus Estimate that called for a loss of $0.20 per share.
Beat revenue estimates. The company saw revenue figures of $247.87 million, topping our consensus estimate of $246.08 million.
Fitbit’s quarterly revenues fell roughly 17% from $298.9 million in the year-ago period. Meanwhile, the fitness wearable’s bottom line dropped from a $0.15 loss per share. Fitbit noted that it sold 2.2 million wearable devices in the quarter.
Looking ahead, Fitbit expects to report second quarter revenues in the range of $275 million to $295 million, which would mark a roughly 19% year-over-year decline. Fitbit also expects to report a Q2 adjusted net loss per share in the range of $0.27 to $0.23.
Here’s a graph that looks at FIT’s Price, Consensus and EPS Surprise history:
Check back later for our full analysis on FIT’s earnings report!
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Fitbit (FIT) Tops Q1 Earnings & Revenue Estimates, Rough Days Still Ahead
Fitbit just released its first quarter financial results, posting an adjusted loss of $0.17 per share and revenues of $247.87 million.
Fitbit is currently a Zacks Rank #3 (Hold), which is subject to change based on today’s results. Shares of Fitbit are down 5% over the last year. Fitbit had seen its stock price surge 18% over the last four weeks. However, the company saw its stock price dip marginally on Wednesday to hit $5.46 per share prior to the release of its quarterly earnings results.
Fitbit stock is currently flat in after-hours trading shortly after its earnings report was released.
FIT:
Beat earnings estimates. The company posted an adjusted loss of $0.17 per share, beating the Zacks Consensus Estimate that called for a loss of $0.20 per share.
Beat revenue estimates. The company saw revenue figures of $247.87 million, topping our consensus estimate of $246.08 million.
Fitbit’s quarterly revenues fell roughly 17% from $298.9 million in the year-ago period. Meanwhile, the fitness wearable’s bottom line dropped from a $0.15 loss per share. Fitbit noted that it sold 2.2 million wearable devices in the quarter.
Looking ahead, Fitbit expects to report second quarter revenues in the range of $275 million to $295 million, which would mark a roughly 19% year-over-year decline. Fitbit also expects to report a Q2 adjusted net loss per share in the range of $0.27 to $0.23.
Here’s a graph that looks at FIT’s Price, Consensus and EPS Surprise history:
Fitbit, Inc. Price, Consensus and EPS Surprise
Fitbit, Inc. Price, Consensus and EPS Surprise | Fitbit, Inc. Quote
Check back later for our full analysis on FIT’s earnings report!
Looking for Stocks with Skyrocketing Upside
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>