Fitbit steps up to a better position but fails to impress the market | AlphaStreet
Fitbit, back to grab the wearable crown from the likes of Apple and Samsung, was in very good shape last quarter — at least when you think about where it was going. And the fourth-quarter results were a testament to that fact as well, with losses shrinking to just one-third of what it was. Our live earnings snapshot on FIT will give you a clear picture of the numbers. However, the market was least impressed with this recovery, for it sent shares tumbling by at least 11% on Monday in after-hours trading. Courtesy: Fitbit Device sales saw an increase from last quarter, with 50% more wearables sold in the last quarter of the financial year. It...