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Fitbit shares tank after reporting a weak outlook amid rising competition
Fitbit is not having a good day, with the stock crashing more than 11 percent after reporting its first-quarter results.
Here’s the rub: its guidance for the second quarter came in light. Very light. Industry watchers were expecting the company to report earnings around 26 cents per share, while the company put its outlook at earnings between 8 cents per share and 11 cents per share. Read More
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Fitbit’s Post-Smartwatch Announcement Crash Marches On, Dropping Another 10%
Fitbit is already not having a good week. After unveiling a new smartwatch at CES last week, the stock tanked 18% over the course of the day. But things have only gotten worse for the fitness tracking device-focused company, with its shares dropping another 10% in trading today. The stock fell as much as 13% during the day, bringing it to an all-time low. As we noted last week, this seems to be… Read More
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Fitbit Unveils Blaze Smart Fitness Watch With Color Touch Screen
Today at CES 2016, Fitbit has unveiled the latest generation of its smart fitness watch in the Fitbit Blaze. With the Blaze, the company is looking to be competitive with products like the Apple Watch, which offer less by the way of fitness but far more when it comes to customization and style. The Blaze include customizable accessory options for the bands and casing, a color touchscreen,… Read More
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Startups Are Taking Over CES
The Consumer Electronics Show keeps on growing. Several years ago the show outgrew the massive Las Vegas Convention Center and started using part of the Sands Expo Center several blocks away. They called it Eureka Park and made the exhibit space less expensive in a bid to attract startups to the show. It worked. And it’s bigger than ever with startups filling both levels of the Sands. CES… Read More
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Fitbit Crushes Expectations In Q3, But A Follow-On Equity Offering Drags Its Shares Down
Following the bell, Fitbit announced its third-quarter financial performance, including revenue of $409.3 million, and earnings per share using normal accounting methods of $0.19. The company’s adjusted profit totaled $0.24 per share.
The results are notably strong. Investors had expected the company to report a far-slimmer $0.10 adjusted per-share profit off of revenue of just $350.97. Read More
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The Difference Between FitBit And GoPro
Today, the technology industry is caught in a landslide of hype about “unicorns” — the term adopted by many to describe the rare class of startup that soars in value to $1 billion or more. And just like their namesake, many tech unicorns will turn out to be fantasies. Fitbit Files For $100M IPO
Fitbit just filed an S-1 declaring its plans to go public.
The filing states that the fitness-tracking company aims to raise $100 million in its initial public offering (that number could change). It also says the company will list on the New York Stock Exchange under the symbol “FIT”. Read More
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This Week On The TC Gadgets Podcast: HP Sprout, New Fitbits, And Other Wrist-Worn Tech
Fitbit announced a few new devices, including the Fitbit Charge and the Fitbit Surge, both of which we’re excited about. Plus, HP is doing all kinds of weird things, not least of which is the announcement of an odd new computer, projector type device called the Sprout.
Plus, we’re still fascinated with the Apple Watch so we’re talking about all things wrist this week. Read More
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