Leading wearables maker Fitbit (FIT) reported flat fourth quarter revenues of $571 million vs. prior year period. On a GAAP basis, the company pared down its losses to $0.19 per share vs. $0.46 reported last year. Non-GAAP loss came in at $0.02 per share compared to $0.56 in the fourth quarter of 2017.
Fitbit sold 5.4 million devices in the fourth quarter, which improved 50% sequentially, but was down 17% when compared to the prior year period. Average selling price improved 20% to $102 vs. previous quarter, but was down 3% compared to the fourth quarter of 2016.
Regarding customer mix, 67% of activations were from new users, while the rest came from repeat customers.
At the end of 2017, no. of active users stood at 25.4 million, spiked 9% from 23.2 million reported at the end of December 31, 2016.
Fitbit expects its device mix to lean towards smartwatches during 2018. The company expects its sales to be approx. $1.5 billion and hopes to breakeven in the fiscal 2018. For the first quarter of 2018, revenues are expected to come between $240 million to $255 million and basic non-GAAP loss in the range of $0.21 to $0.18 per share.
Starbucks Corporation (NASDAQ: SBUX) reported first quarter 2023 earnings results today. Consolidated net revenues increased 8% year-over-year to $8.7 billion, in line with projections. Global comparable store sales increased
Alphabet Inc. (NASDAQ: GOOGL, GOOG) on Thursday reported a 1% increase in fourth-quarter 2022 revenues, with strong contributions from the cloud business. The company, which owns the largest internet search
Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,