Fitbit falls short on holiday- quarter revenue forecast

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.