Where Fitbit’s 3Q17 Stood next to the Analyst Estimates
Revenue of $393 million
US-based (SPY) consumer technology (QQQ) firm Fitbit (FIT) announced its 3Q17 results on November 1, 2017, reporting revenues of $393 million—a fall of 22% YoY (year-over-year), compared with its revenues of $503.8 million in 3Q16.
Fitbit’s non-GAAP (generally accepted accounting principles) EPS (earnings per share) came in at -$0.01 in 3Q17, significantly below its EPS of $0.19 in 3Q17. Its adjusted EBITDA (earnings before interest tax, depreciation, and amortization) totaled $6 million.
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During the company’s 3Q17 earnings call, Fitbit CEO (chief executive officer) James Park stated: “Our Q3 results demonstrate our continued focus on the successful execution of our product roadmap and transition plan, positioning us on a path back to growth and profitability.”
What did analysts expect from Fitbit in 3Q17?
Analysts expected Fitbit to post revenues of $391.8 million in 3Q17, with non-GAAP EPS of -$0.04, and so Fitbit beat the analyst revenue and EPS estimates for 3Q17. Fitbit beat analyst EPS estimate in 2Q17 by 46% as well, when the firm reported EPS of -$0.08.