Home > Wearables > Fitness Bands > Fitbit Beats Earnings, Denies Production Problems

Fitbit Beats Earnings, Denies Production Problems

Fitbit’s CEO James Park has denied reports that the company’s first entry into the smartwatch market has been a troubled one, speaking at the company’s latest earnings call earlier today.

Fitbit managed to beat expectations for the quarter, delivering a lower than expected loss of $60.1 million.

The company’s revenue for the quarter was $298.9 million, down from the previous year’s $505.4 million. They sold 3 million units during the quarter, with the Charge 2, the Fitbit Flex 2, and the Fitbit Alta HR accounting for 84% of quarterly revenues.

Park insists that Fitbit’s “new product introductions are on track. The business is going as planned. And that’s why we are reaffirming our full-year guidance.”

He says that “long battery life, coupled with an amazing interactive experience, and one of the largest fitness social networks” will see the company bring their “own unique perspective” to the smartwatch category.

Fitbit shares rose 10% in the wake of the announcement.

You may also like
Doctor, Doctor, Give Me A Smartwatch! Aussies Taking Control of Health Via Tech
Fitbit Products Now Sold At Google Store
Facebook Tipped To Launch Smartwatch In 2022
Why Is Big W CE Flying & Target Struggling
NASA Hires Fitbit To Help Fight COVID-19