Fitbit results beat Street as demand for wearable devices climb

May 1, 2019

Fitbit, which helped pioneer the wearable devices craze, posted year-over-year trackers growth for the first time in three years, getting a boost from its new Inspire line. Smartwatch sales also more than doubled in the quarter. The San Francisco-based company said new devices launched in the past 12 months, including the Inspire brand, made up 67 percent of revenue in the quarter. Analysts expected the company to sell 2 million devices at an average selling price of $109.33, according to data from FactSet.

Source: Reuters