Fitbit Inc. FIT, + 7.01% shares jumped 8% Wednesday in the extended session after the company reported an income and…
FIT, + 7.01%
shares jumped 8% Wednesday in the extended session after the company reported an income and earnings result. Gadget maker reported net losses of $ 2.1 million for the third quarter, or 1 cents per share, compared with losses of $ 113.4 million, or 48 cents per share, for the period over the period. Adjusted for items such as share-based compensation, the result was 4 cents per share. Revenue increased to $ 393.6 million from $ 392.5 million during the period. Analysts investigated by FactSet had estimated adjusted losses of 1
cents per share on a turnover of $ 381.3 million. For the fourth quarter, the analyst model adjusted a profit of 5 cents per share on a turnover of $ 569 million. The company said it expects revenue to be “bigger” than $ 560 million and adjusted earnings to “greater” than 7 cents per share. Fitbit repeated its full-year sales guide of $ 1.5 billion. The Fitbit share has fallen 17% this year, with the S & P 500 index
SPX, + 1.09%
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