Fitbit Inc. (NYSE: FIT) is scheduled to report fourth quarter 2019 earnings results on Thursday, February 20, after the market closes. Analysts expect the company to report earnings of $0.03 per share, which compares to EPS of $0.14 reported a year ago. Sales are expected to fall 8% to $523 million.
Fitbit had a weak third quarter with a 12% decline in revenue caused by a drop in pricing and flat growth in devices sold. Adjusted loss was $0.10 per share. Revenues declined in the US and across all its international regions, barring Asia-Pacific.
Fitbit rolled out several software updates and added new features to Versa 2 in the fourth quarter and it remains to be seen if these have helped in driving device sales and overall revenue.
The company managed to post an increase in smartwatch revenues last quarter even as it faces tough competition in the wearables space from tech giants like Apple (NYSE: AAPL). Tracker revenues declined in the absence of new launches and tough comparisons with the year-ago period. The number of active users increased 9% last quarter.
The main topic to watch will be updates on the proposed acquisition by Google. The deal faces certain hurdles related to investigations over concerns about the tracking of user data by Google. Some analysts speculate that the deal might take a longer time to close than previously anticipated and might not bring investors the expected value.
Shares of Fitbit have dropped 4% over the past three months. The stock was up slightly by 0.16% in afternoon hours on Tuesday.
Most Popular
Richtech’s mission is to transform the service industry through collaborative robotic solutions: President
Richtech Robotics Inc. (NASDAQ: RR) is a leading provider of robotic solutions, developing, manufacturing, and deploying novel products needed for automation in the service industry. The company's solutions include delivery,
What to expect when Darden Restaurants reports Q1 results
Darden Restaurants, Inc. (NYSE: DRI) is scheduled to release its first-quarter report on September 19, with analysts forecasting a year-over-year increase in sales and profit. The market will be keeping a
Oracle (ORCL) sees continued strong revenue growth in FY25
Oracle Corporation (NYSE: ORCL) started the new fiscal year on a high note with stronger-than-expected first-quarter results, driving the stock higher soon after the announcement. The tech giant’s earnings and
