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Article Date: November 2019
Word Count: 296

Fitbit Net Loss Surges as Sales Slide


Red ink kept on gushing in the third quarter, as net loss expanded to $51,893,000 from a loss of $2,056,000 last year, on 12% lower revenues of $347,200,000 down from $393,575,000, which was slightly better than Wall St. expectations. But the beleaguered fitness band maker hopes to soon leave its public company concerns behind for a quiet future as an Alphabet subsidiary, assuming last week’s $7.35 per share offer gets approval from antitrust regulators. FIT management did not provide forward looking guidance or hold a conference call to discuss the company’s Q3 results.

 

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