Live by the wristband, die by the wristband. Fitbit reported its third-quarter earnings this afternoon, reporting year-over-year growth of 23 percent to $503.8 million. Analysts had been expecting $506.9 million, which doesn't sound like much of a miss; earnings of 19 cents per share met expectations. Unit sales grew 11 percent, and so did average selling price. The real … [Read more...]
Fitbit’s Road to Success Narrows
Wearable Tech Insider does not do stock or financial analysis, but Fitbit's 1Q results, released yesterday, said interesting things about the state of the company. Sales and earnings in the quarter beat analysts expectations, but the company's profit outlook for 2Q were a third to a half of what was expected. (Sales, however, were projected to be strong.) As a result, the … [Read more...]
Apple’s Earnings Are Up; Doesn’t Break Out Watch Sales [Updated]
Apple announced its second quarter earnings today, up 38 percent supported by big sales increases in China and strong iPhone demand. The company did not break out Apple Watch sales, lumping them instead with Apple TV, Beats products, and iPods. Sales for that group of products grew 49 percent in the second quarter, to $2.64 billion. CEO Tim Cook said watch sales were … [Read more...]