CrowdWisers™--- the subscriber area has no ads and those above are not selected or endorsed by this site ---
Fitbit 3Q18 results +5
16:37 31-Oct-18
Fitbit has announced its earnings for the third quarter:
- a profit of 4 cents per share beats by
5 cents
- on revenue of $393.6M, which beats by $13.6M
- guidance for fourth quarter revenue above $560M is up to $7M shy of expectations
- 4Q18 earnings of 7
cents per share would beat by a penny
This is obviously a good result, and FIT is up almost 10%, back
over the $5 mark, which is no surprise to me. It looks like the
company has scaled back promotions and is seeing higher ASPs on
lower volume, which is expected to continue for the remainder of
the year. The good news is that it is seeing some better traction
internationally. Management says it grew the health care business
by 26%, but that's not exactly stunning from a small base. The
conference call is at 5, but I will not write again unless there
is some surprise.