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Inside Fitbit's 3Q17 Performance

PART:
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Part 4
Inside Fitbit's 3Q17 Performance PART 4 OF 8

These Were Fitbit’s Major Markets in 3Q17

US sales fell 32% YoY in 3Q17

The US (SPY) continued to be the largest market for Fitbit (FIT) in 3Q17, accounting for 62% of total sales. But revenues from US markets fell 32% YoY (year-over-year) to $244.2 million in 3Q17, down from $361.2 million in 3Q16.

Revenues generated from the Americas (excluding the US) accounted for 6.5% of total revenues, or $25.3 million. Revenue from this market fell marginally from $25.9 billion in 3Q16.

These Were Fitbit’s Major Markets in 3Q17

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EMEA (Europe, the Middle East, and Africa) accounted for 23% of total revenues and was the only market where Fitbit experienced revenue growth in 3Q17. Revenues here rose ~10% YoY to $88.7 million in 3Q17, up from $80.9 million in 3Q16.

Asia-Pacific saw a revenue decline of 3.7% YoY to $34.4 million. In the first nine months of 2017, revenue from the US, Americas, and Asia-Pacific 47%, 9%, and 28%, respectively, YoY. But revenues from EMEA rose ~12% YoY to $285 million in the first nine months of 2017.

Sequential rise in revenue in the US

In the above graph, you can see that revenues from the US rose 23% QoQ (quarter-over-quarter) in 3Q17. The Americas and Asia-Pacific saw revenue rises of 4% and 63%, respectively, compared with EMEA’s revenue decline of 18% QoQ in 3Q17.

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