SAN FRANCISCO (AP) _ Fitbit Inc. (FIT) on Wednesday reported a loss of $51.9 million in its third quarter.
The San Francisco-based company said it had a loss of 20 cents per share. Losses, adjusted for stock option expense and pretax expenses, were 10 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for a loss of 10 cents per share.
The wearable device maker posted revenue of $347.2 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $346.3 million.
Fitbit shares have increased 41% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.03, a rise of 13% in the last 12 months.