Categories Earnings, Health Care

What to expect when Fitbit (FIT) reports Q4 earnings

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 reports third quarter 2019 earnings results

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.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Shopify (SHOP): This recession-proof stock looks unstoppable. Here’s why

The virus-related movement restrictions have had a complementary effect on the business of Shopify Inc. (NYSE: SHOP), which was already thriving on the widespread cloud adoption and digital shift. The

IPO: Here are the things to know about Fresh Grapes’ market debut

There has been a spurt in the number of food and beverages companies going public lately, but many of them failed to perform as expected in the stock market. Fresh

Hormel Foods (HRL) fine-tunes biz strategy to beat challenges. Is the stock a buy?

For consumer staples companies, rising inflation is probably turning into a bigger challenge than the virus-induced supply chain disruption and store closures. After bettering its position since the early months

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