Fitbit enjoys another quarter of sales and revenue growth, as well as wearable domination
The smartwatch market is shrinking, with both Apple and Google’s Android Wear hardware-making partners to blame for their delay in renewing last year’s designs, but the wrist-worn tech industry remains kind and giving for at least one key player, veteran and trendsetter.
It’s a shame Fitbit seems to be stepping into the limelight only once every 90 days, as its sales results and quarterly earnings scores have yet again beaten analyst forecasts. Surely, the company must now be thinking about building buzz around two mystery products due out at IFA Berlin early next month.
Before these rumored Charge and Flex sequels roll out, the OG models, alongside the Blaze, Alta and so on managed to tally a combined 5.7 million unit shipments between April and June, up from 4.5 mil during Q2 2015, and nearly 5M in the January – March 2016 timeframe.
Q2 revenue surged by an even heftier 46.5 percent year-on-year, to $586.5 million, with ensuing profit per share of 12 cents, and a big after-market trading rise of roughly 8 percent in share prices.
According to Canalys research, Fitbit comfortably and predictably commanded “basic band” sales in Q2 2016, with 3.7 million copies, meaning the other 2 mil went to more advanced wearables, including the Blaze smartwatch.
Clearly, Fitbit eclipsed everyone from Apple to Samsung in terms of overall wearable shipments this past quarter as well, while Xiaomi and Garmin made the fitness tracker podium, at 3M and 700K units respectively.