Fitbit sees sales slowing further in Q1

Thursday 23 February 2017 | 15:19 CET | News
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Fitbit has warned of a slowdown in sales due to tough competition in the market for fitness tracking bands. The company forecast revenues of USD 270-290 million for the first quarter of 2017, down sharply from USD 574 million in Q4 2016. Sales inQ4 were also down on an annual basis, from USD 711 million in Q4 2015. The company shipped a total 6.5 million of its wearable devices in Q4, down from 8.2 million a year earlier. Adjusted EBITDA was a loss of USD 144.2 million, and the net result moved to a loss of USD 125 million from a profit of USD 87.4 million a year earlier. Over the full year,

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Categories: Mobile & Wireless
Companies: Fitbit
Countries: World
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