Fitbit, Inc. (NYSE:FIT) just released its first quarter fiscal 2016 earnings results, posting non-GAAP diluted earnings per share of $0.10 and revenue of $505.4 million.
Currently, FIT has a Zacks Rank #2 (Buy), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Fitbit:
1. Beat earnings estimates. The company posted non-GAAP diluted earnings per share of $0.10, topping the Street estimate of $0.03 but declining 63% year-over-year.
2. Beat revenue estimates. The company saw revenue figures of $505.4 million, soaring past the consensus estimate of $444.3 million and reflecting a 50.1% year-over-year increase.
3. Sold 4.8 million connected health and fitness devices in the first quarter, with the Fitbit Blaze and Alta selling one million units each and comprising 47% of Q1 revenue.
4. Reported Q2 non-GAAP EPS and revenue guidance in the ranges of $0.08-$0.11 and $565-$585 million, respectively.
5. FIT was down $1.95, or 11.40%, to $15.16 as of 4:44 PM ET in after-hours trading shortly after its earnings report was released.
Here’s a graph that looks at Fitbit’s three-month performance compared to its competitors:
Fitbit manufactures and markets wearable fitness-tracking devices. The Company's product consists of Fitbit Zip, Fitbit One, Fitbit Flex, Fitbit Charge, Fitbit Charge HR, Fitbit Surge and Aria. It also offers accessories which include bands and clips, charging cables and Fitbit apparel. Fitbit Inc. is headquartered in San Francisco, California.
Check back later for our full analysis onFitbit’s first quarter earnings report!
FITBIT INC (FIT): Free Stock Analysis Report
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