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Fitbit beats market expectations but is winded by fresh share sale

Its share price falls 10% despite Q3 EPS far exceeding analysts' forecast of 10 US cents

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Published Tue, Nov 3, 2015 · 09:50 PM

    New York

    WEARABLE fitness device maker Fitbit Inc has secured agreement to lift lock-up restrictions on over two million shares more than a month earlier than scheduled and announced an offering of 21 million shares.

    The news sent the company's shares down 10 per cent in extended trading on Monday, overshadowing its strong results and forecast.

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