{"id":340021,"date":"2017-05-04T04:31:31","date_gmt":"2017-05-03T20:31:31","guid":{"rendered":"http:\/\/techcrunch.com\/?p=1485094"},"modified":"2017-05-04T04:31:31","modified_gmt":"2017-05-03T20:31:31","slug":"fitbit-stock-jumps-10-after-beating-in-q1-with-3-million-devices-sold","status":"publish","type":"post","link":"https:\/\/people.utm.my\/asmawisham\/fitbit-stock-jumps-10-after-beating-in-q1-with-3-million-devices-sold\/","title":{"rendered":"Fitbit stock jumps 10% after beating in Q1 with 3 million devices sold"},"content":{"rendered":"

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Fitbit shares are up 10 percent on the news (PDF<\/a>) that the company beat Wall Street\u2019s expectations for the company. Fitbit today reported a loss of 15 cents per share rather than 18 cents per share. Reported revenue also came in above analysts expectations: $299 versus $280.8.<\/p>\n

This release shows Fitbit is keeping pace with the market and turning past customers into repeat customers. That\u2019s key to Fitbit\u2019s long-term success.<\/p>\n

According to the company\u2019s press release, Fitbit sold 3 million devices in the first quarter of 2017. Of the new sales, 36 percent of the activations came from customers purchasing their second Fitbit device and of that group, 40 percent of the purchases were of customers who were inactive for 90 days or more.<\/p>\n

\u201cUnderlying consumer demand has been better than our reported results in North America as we work down channel inventory levels, giving us increased confidence that we will enter the second half of 2017 with a relatively clean channel,\u201d CEO James Park said in a press release on Wednesday.<\/p>\n

During the last year Fitbit refreshed its entire line of products. This was at a pace that was seemingly quicker than previous refreshes. As the price of activity trackers decrease, Fitbit needs to keep pace by introducing new models to keep the product line fresh \u2014 even if the new models have similar features.<\/p>\n","protected":false},"excerpt":{"rendered":"

\"\" Fitbit shares are up 10 percent on the news that the company beat Wall Street’s expectations. Fitbit today reported a loss of 15 cents per share rather than 18 cents per share. Reported revenue also came in above analysts expectations: $299 versus $280.8. This release shows Fitbit is keeping pace with the market and turning past customers into repeat customers. Read More<\/a><\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

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