Fitbit Q2 Results Tops Estimate

(RTTNews) - Fitbit, Inc. (FIT) reported net income for the second quarter of $17.7 million or $0.07 per share, compared to $14.8 million or $0.07 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $51.3 million or $0.21 per share, compared to $18.3 million or $0.09 per share in the prior year quarter.

Revenue for the second quarter rose to $400.41 million from $113.57 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.08 per share on revenue of $319.45 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts revenue of $335 million to $365 million and adjusted earnings of $0.07 to $0.10 per share. Analysts currently expect the company to earn $0.07 per share on revenue of $261.90 million for the third quarter.

For the full year 2015, the company forecasts revenue of $1.6 billion to $1.7 billion and adjusted earnings of $0.69 to $0.77 per share. Analysts currently expect the company to earn $0.61 per share on revenue of $1.41 billion for the full year 2015.

Fitbit went public in June following an initial public offering.