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Fitbit's Holiday-Quarter Sales Forecast Misses Estimates, Shares Plunge

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy Omniscient Member

Ron Burgundy

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The ticker symbol for Fitbit is displayed at the post where it is traded on the floor of the NYSE(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 to $750 million for the key holiday-shopping quarter, well below analysts' estimates of $985.1 million, according to Thomson Reuters I/B/E/S. ...




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