Fitbit spikes after losing less money than expected (FIT)

pulse

May 3, 2017 10:01 PM

Fitbit's stock spiked in post-market trading after the company reported first-quarter profit and sales that beat analyst expectations.

Fitbit's stock spiked after the company reported a first-quarter loss that was less than analyst forecast.

The adjusted loss for the period was $0.15 per share, beating consensus estimates of a $0.18 per share deficit. The maker of wearable fitness products also reported quarterly revenue of $298.9 million, exceeding an analyst forecast of $279.4 million.

North AmericaCEO James Park said in a statement

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