Fitbit profit forecast trails estimates, shares drop 13%
London
WEARABLE fitness device maker Fitbit Inc's profit forecast for the current quarter fell far short of analysts' estimates, overshadowing a strong first quarter report, sending the company's shares down 13 per cent in after-hours trading.
Fitbit has been spending heavily to diversify its portfolio of colourful wristbands and clippable devices that track calories, sleeping patterns and heart rate, to better compete against rising c…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Cordlife customers push for legal action
France's Casino supermarket chain to axe up to 3,200 jobs
Prada outshines rivals with 16% revenue lift boosted by Miu Miu
Toymaker Hasbro posts quarterly profit beat, slower sales decline