Fitbit Sales Beat Wall Street Expectations Ahead of Google Deal
This article is for subscribers only.
Fitbit Inc. reported revenue that beat analysts’ estimates in its first quarterly results since Google announced its planned acquisition of the wearable technology company.
Third-quarter sales were $347 million, the San Francisco-based company said Wednesday in a statement. That was a decline of 12% from the period a year earlier, but ahead of analysts’ projections of $345.1 million. The shares slipped less than 1% in extended trading after closing at $7.03 earlier on Wednesday.