Fitbit, Inc. (NYSE:FIT) announced net loss for the fourth quarter of $ 45.47 million or $ 0.09 per share. The company generated revenue of $ 570.76 million for the same period.
On an adjusted basis, Fitbit revealed Non-GAAP net loss of 2 cents a share for the fourth quarter. This missed analysts estimate by $ 0.01 a share while revenue fell shy of street analysts expectation by $ 18 million.
Street analysts are looking for loss of $ 0.01 per share on revenue of $ 588.89 million for the fourth quarter. Analysts estimates are from Thomson Reuters, excluding one time gain or loss.
James Park, co-founder and CEO, said: In 2018 well focus on managing down expenses, continuing to expand in the smartwatch category and supporting our engaged global community on their health and fitness journeys.
For the twelve months period, FIT disclosed net loss of $ 277.19 million or $ 1.19 per share from the revenue of $ 1.62 billion.
At the same time, Fitbit recorded twelve months adjusted loss of $ 61.14 million or $ 0.26 per share.
Moving ahead, San Francisco, California based company anticipates first quarter earnings estimations to the range of ($ 0.21) – ($ 0.18) per share, while revenue for the first quarter to a range of $ 225.00 million – $ 240.00 million..
At the same time, FIT expects revenue for the full year 2018 of $ 1050.00 million.