Fitbit 2Q17 earnings down significantly as smartwatch wait towers

Fitbit recorded a $58.2 million loss in its fiscal second quarter compared with net income of $6.3 million last year. Revenue dropped 40 percent to $353 million. Unit sales dropped by about the same proportion to 3.4 million.

The company is spinning its performance by saying it was better than it was expecting — its revenue guidance for the quarter topped out at $350 million —= and has an eye toward the future — specifically, its health-focused smartwatch, which CEO James Park promises “is on track for delivery ahead of the holiday season…” The beleaguered company has reportedly trudged through this project with high attrition from its acquired smartwatch entities. Meanwhile, Fitbit band prices have been falling, hard.

One thing’s for sure, the company’s ready to live or die against the Apple Watch in the back half of its fiscal year.

Share This Post

Watch the Latest Pocketnow Videos

About The Author
Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.