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Article Date: February 2018
Word Count: 523

Fitbit Sees Healthcare and Services in its Future

Net loss narrowed to $45,470,000 from a loss of $146,273,000 in the final quarter on 1% lower revenues of $570,756,000 against $573,775,000 as strong gains in international sales nearly offset the U.S. decline. Sales in the U.S., by far its largest market with 58% of sales, dropped 13% to $330.2 million. Other Americas sales jumped 40% to $46.7 million, EMEA gained 16% to $155.1 million and APAC surged 56% to $38.8 million. Gross margin in the quarter nearly doubled to 43.6% on lower warranty costs and lower levels of obsolete inventory clearance. FIT shares dropped 10% in after hours trading ... Log in to view full article.


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