Fitbit, a health & fitness wearables company today announced its first quarterly earnings since it went public in June, and the results are surprisingly awesome. The company reported earnings of 21 cents per share (about 3 times that expected on prior analysis) for the second quarter ended in June, while analysts had expected earnings of just 8 cents. Analysts had expected revenues of $139 million, but Fitbit delivered $400 million. Fitbit reported $18.3 million in profits for last year’s second quarter, and reported profits of $51.3 million in this year’s.
No doubt, it’s a very inspiring news for the fitness loving IPO buyers, isn’t it?
Data Source : venture beat
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