Wearable device maker Fitbit Inc cut its 2019 revenue forecast on Wednesday, bla...
- Wearable device maker Fitbit Inc cut its 2019 revenue forecast on Wednesday, blaming disappointing sales of its newly launched cheapest smartwatch Versa Lite, sending its shares tumbling as much as 16% to a record low.
“While Versa Lite received good present consumer reviews, we saw that consumers were willing to pay more for a smartwatch with additional features or look for discounting versus everyday value,” Chief Executive Officer James Park said during a post earnings call with analysts. The disappointing performance of Versa Lite suggests the overall health of the business is not as strong as we had thought, DA Davidson analyst Thomas Forte said.
Fitbit has been partnering with health insurers and making tuck-in acquisitions in the healthcare market as part of efforts to diversify its revenue stream.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Fitbit lowers 2019 revenue forecast, shares sink 16%Wearable device maker Fitbit Inc forecast third-quarter revenue below analysts&...
Lire la suite »
Stocks making the biggest moves after hours: Fitbit, Qualcomm, Twilio and moreSee which stocks are posting big moves after the bell on July 31.
Lire la suite »
Apple and Fitbit numbers show smartwatches turning into a winner-take-all marketFitbit plunged to a record low after hours on Wednesday because of disappointing smartwatch sales, a day after Apple exceeded expectations.
Lire la suite »
The iPhone just did something it hasn’t done in nearly 7 years, and it isn’t good for Apple% of Apple revenue driven by iPhone sales: Fiscal Q3 2018: 63% Fiscal Q3 2019: 48%
Lire la suite »
Bayer says 2019 profit goal becoming a stretchGermany's Bayer became the latest agricultural supplies company to be affec...
Lire la suite »