(Reuters) – Wearable fitness device maker Fitbit Inc’s revenue forecast for the key-holiday shopping quarter fell well short of analysts estimates, hurt by stiff competition from rival device makers. Shares of the company, which also reported lower-than-expected quarterly revenue, plummeted more than 30 percent in extended trading on Wednesday. Fitbit forecast revenue of $725 million […]
(Reuters) – Wearable fitness device maker Fitbit Inc’s revenue forecast for the key-holiday shopping quarter fell well short of analysts estimates, hurt by stiff competition from rival device makers. Shares of the company, which also reported lower-than-expected quarterly revenue, plummeted more than 30 percent in extended trading on Wednesday. Fitbit forecast revenue of $725 million […]
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