Fitbit found profit in holiday season, but disappointing outlook clouds earnings

📆 2/28/2019 12:48 AM
📰 MarketWatch

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Chief Executive James Park told MarketWatch that this latest quarter was the first since 2016 in which the company posted an increase in devices sold

Fitbit is back to showing growth in device sales, but the company just delivered a downbeat earnings forecast for the current quarter.

Chief Financial Officer Ron Kisling told MarketWatch that the first-quarter outlook reflects that the March period is typically the slowest for Fitbit, which weighs on margins as the company still has fixed manufacturing costs. He expects gross margins to come up as the year progresses.

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