Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Reuters
Reuters
Business

Fitbit reports a 12% fall in revenue

FILE PHOTO: Visitors walk past an advertising billboard for Fitbit Ionic watches at the IFA Electronics Show in Berlin, Germany, September 1, 2017. REUTERS/Fabrizio Bensch

(Reuters) - Wearable device maker Fitbit Inc <FIT.N> reported its first drop in revenue in five quarters on Wednesday as it faced intense competition from deeper-pocket companies such as Apple Inc <AAPL.O> and Samsung Electronics Co Ltd <005930.KS>, underscoring challenges for buyer Alphabet Inc's <GOOGL.O> Google.

The company's net loss widened to $51.9 million, or 20 cents per share, in the third quarter ended Sept. 28, from $2.1 million, or 1 cent per share, a year earlier.

Revenue fell 11.7% to $347.2 million.

(Reporting by Amal S in Bengaluru; Editing by Sriraj Kalluvila)

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Why Black Animals Are Still Waiting For Homes Despite Being Perfect Companions
Walk into almost any animal shelter in the world, and a quiet pattern reveals itself. Lighter colored pets leave first. The black ones stay behind. Days turn into weeks, weeks into months. This is not a coincidence. Across countries, cultures, and shelter systems, black animals are adopted less frequently and…
Times Pets
Times Pets
Heard it on the grapevine: Polish wine’s quiet renaissance
Once thought of only for vodka and lager, Poland is in the midst of a wine-making revival that’s infiltrating restaurant lists, bars and independent suppliers
The Guardian - UK
The Guardian - UK
In My Tiny Kitchen, Every Inch Counts – Yet Drew Barrymore’s Ingenious Blender Earned a Spot on My Counter (And Replaced 3 Bulky Appliances)
The new 'Kitchen System' is a personal blender and food processor all in one, making it a must-have for small spaces (starting with mine)
Homes & Gardens
Homes & Gardens
Former Texas Roadhouse worker calls out the outlet for ‘scooping out’ a bug from their cinnamon butter, but people noticed something even worse
Everyone has seen the viral videos of secret menu hacks or behind-the-scenes kitchen tours. But one former Texas Roadhouse server’s “throwback” TikTok of a bug in cinnamon butter is a literal nightmare. People with a fear of bugs, you might want to sit this one out.
The Mary Sue
The Mary Sue
From YouTuber to NASCAR driver: Cleetus McFarland expands his racing resume at Daytona
Garrett Mitchell is better known as “Cleetus McFarland” to his millions of followers gained over the years as a racing influencer
The Independent UK
The Independent UK
Woman orders wedding dress from Dior. Then she sees the box it came in. People are alarmed at the reveal: ‘I thought that was a fridge’
Forget butterflies and happy tears. This Dior bride’s big moment arrived looking less like couture and more like a Home Depot delivery. In a now-viral TikTok, handymen lug a massive wooden crate into her house–except it’s the kind you’d expect to hold a fridge, not a frock.
The Mary Sue
The Mary Sue
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play