Fitbit reports a 12% fall in revenue [Reuters (UK)]
FITBIT INC (FIT)
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Source: Reuters
Fitbit reports a 12% fall in revenue - Reuters 1 Min Read (Reuters) - Wearable device maker Fitbit Inc ( FIT.N ) reported its first drop in revenue in five quarters on Wednesday as it faced intense competition from deeper-pocket companies such as Apple Inc ( AAPL.O ) and Samsung Electronics Co Ltd ( 005930.KS ), underscoring challenges for buyer Alphabet Inc’s ( GOOGL.O ) Google. The company’s net loss widened to $51.9 million, or 20 cents per share, in the third quarter ended Sept. 28, from $2.1 million, or 1 cent per share, a year earlier. Revenue fell 11.7% to $347.2 million. Reporting by Amal S in Bengaluru; Editing by Sriraj Kalluvila All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2019 Reuters. All Rights Reserved.
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