Categories Finance, Technology

Fitbit Inc: Q4 2017 Earnings Snapshot

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.

Device Sales

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.

Active Users

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.

Outlook

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.

Fitbit 4Q earnings highlights

Most Popular

KB Home (KBH): What did and did not work for the homebuilder in the third quarter

Shares of KB Home (NYSE: KBH) were up slightly on Friday. The stock has dropped 40% year-to-date and 35% over the past 12 months. The company delivered mixed results for

Infographic: A snapshot of Costco’s (COST) Q4 2022 earnings

Warehouse behemoth Costco Wholesale Corporation (NASDAQ: COST) has reported a 15% increase in fourth-quarter 2022 revenues, which translated into double-digit growth in net income. Fourth-quarter revenues increased sharply to $72.09 billion.

FDX Earnings: FedEx Q1 adjusted earnings drop; revenue up 5%

Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues. The company also provided guidance for fiscal 2023. Net income, adjusted

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top