Fitbit reports 17 pct drop in quarterly revenue [Reuters]
FITBIT INC (FIT)
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Source: Reuters
Fitbit reports 17 pct drop in quarterly revenue | Reuters Reuters Staff 1 Min Read May 2 (Reuters) - Fitbit Inc reported a 17 percent drop in first-quarter revenue on Wednesday, as the wearable device maker sold fewer products in an increasingly competitive market. The company’s net loss widened to $80.9 million, or 34 cents per share, in the quarter ended March 31, from a loss of $60.1 million, or 27 cents per share, a year earlier. Fitbit’s revenue fell to $247.9 million from $298.9 million. (Reporting by Munsif Vengattil and Shariq Khan in Bengaluru; Editing by Arun Koyyur) All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2018 Reuters. All Rights Reserved.
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