• Fitbit Shares Jump 10% On Higher-Than-Expected Third Quarter Sales

    18 days ago - By Fortune

    Sales to healthcare plans helped wearable maker Fitbit surprise Wall Street in the latest quarter and lift its shares from the basement.
    Revenue from healthcare customers, which the company has yet to disclose by dollar amount, grew 26% in the third quarter from the same period a year ago. The business includes sales of Fitbit's wearable devices, as well as software and services, to health plan providers and directly to some employers.
    But overall revenue rose a mere 0.3%, as the company is still working to get back on track after sales of its main product, simple fitness trackers, stalled...
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  • Fitbit earnings beat expectations on strength of smartwatch sales

    18 days ago - By Tech Crunch

    Fitbit is slowly righting its financial ship, courtesy of a successful push into smartwatch category. The wearable company reported a profit (when adjusted for items such as stock-based compensation) thanks to growing sales in the new category.
    Total revenues rose slightly to $393.6 million in the third quarter compared with the same period last year. The company did report a loss this quarter under generally accepted accounting principles. But it was rosier than in previous quarters and showed that Fitbit is moving in the right direction. Net losses narrowed considerably to $2.1 million...
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