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Fitbit falls short on holiday- quarter revenue forecast
Published Thu, Nov 3, 2016 · 09:50 PM
London
WEARABLE fitness device maker Fitbit Inc's revenue forecast for the key-holiday shopping quarter fell well short of analysts' estimates, hurt by soft demand and battery issues with one of its new wristbands.
Shares of the company, which also reported lower-than-expected quarterly revenue, plummeted more than 30 per cent in extended trading on Wednesday and were set to hit record-low levels on Thursday.
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