- Fitbit (FIT -2.2%) is up 7.2% in late trading, one of the NYSE's most active issues, after its Q1 earnings beat some low expectations and looked ahead to a boost from new launches.
- Revenues slipped more than 40% but beat the company's own guidance, and the company swung to a net loss (of $60.1M) that was better than analysts expected.
- The company sold 3M devices in the quarter, and said that 36% of activations came from customers making repeat purchases (and of those, 40% came from customers inactive for 90 days or more).
- Revenue by region: United States, $170.4M (down 51.5%); Rest of Americas, $19.97M (down 14.6%); EMEA, $87.8M (up 17.5%); APAC, $20.8M (down 62.6%).
- It's guiding to Q2 revenues of $330M-$350M (vs. $348.2M consensus), EPS of -$0.14 to -$0.17 (below estimates for a loss of $0.11), and EBITDA of -$45M to -$55M (below an expected -$34.5M).
- It reiterated full-year guidance: revenues of $1.5B-$1.7B (vs. consensus for $1.58B) and EPS of -$0.44 to -$0.22 (vs. expected -$0.35).
- Press Release
- Now read: Fitbit, Inc. 2017 Q1 - Results - Earnings Call Slides
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