Investing.com - Shares of Fitbit Inc (NYSE:FIT), a provider of health and fitness devices, were climbing during Wednesday's after hours session after the company released its second quarter results, which surpassed expectations.
Fitbit posted a second-quarter loss of $58.2 million, or 25 cents a share, compared to net income of $6.3 million, or 3 cents a share, in the year-ago period. On an adjusted basis, the company lost 8 cents per share. This is about half of the 15 cents per share loss analysts were anticipating. Revenue fell to $353.3 million from $586.5 million in the year-ago period. Analysts had forecast revenue of $341.6 million.
For the third quarter, Fitbit anticipates it will lose 5 cents to 2 cents a share on revenue of $380 million to $400 million. Analysts have the third quarter loss pegged at 5 cents a share on revenue of $393.1 million.
Fitbit's shares closed the regular session down 0.2% at $5.41. They were trading up almost 7% following the earnings release.