Fitbit shares plunge on earning loss

Beleaguered Fitbit today reported revenue of $571 million, GAAP net loss per share of $(0.19), non-GAAP net loss per share of $(0.02), GAAP net loss of $(46) million, non-GAAP net loss of $(5) million, cash flow from operations of $52 million and free cash flow of $25 million, for its fourth quarter of 2017.

For the full-year 2017, Fitbit reported revenue of $1.6 billion, GAAP net loss per share of $(1.19), non-GAAP net loss per share of $(0.26), GAAP net loss of $(277) million, non-GAAP net loss of $(61) million, cash flow from operations of $61 million and free cash flow of $(25) million.

“Fitbit Inc. shares dropped in the extended session Monday after the wearable fitness-tracker maker’s quarterly results and outlook fell short of Wall Street estimates,” Wallace Witkowski reports for MarketWatch. “Fitbit shares dropped 12% after hours.”

“Analysts surveyed by FactSet had estimated breakeven per-share results on revenue of $588.1 million,” Witkowski reports. “Fitbit estimates an adjusted loss of 21 cents to 18 cents a share on revenue of $240 million to $255 million for the first quarter.”

Read more in the full article here.

MacDailyNews Take: Apple Watch, killer.

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3 Comments

  1. Wow those are brutal numbers.

    I don’t see how they will recover. The wearable fitness fad may have come to an end. Cheap plastic garbage bracelets with inaccurate stats that are feature hamstrung.

    And what is the data really doing for people anyway? Really… it’s just a fad. You don’t really do anything with that heart rate data with Fitbit, not that it’s accurate anyway.

  2. … with not a shred of support.
    My heart-rate shows about what I’d expect – 50s when resting. When jogging? 100-130. Yes, I’ve TESTED it. I know a man who is in the 70s while resting and vertical … a TENNIS player.
    Keep your cyncism (I’m being nice, here) to yourself.

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