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Fitbit: 3Q Earnings Snapshot

·1 min read

SAN FRANCISCO (AP) _ Fitbit Inc. (FIT) on Wednesday reported a loss of $54.5 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 costs related to mergers and acquisitions, came to 3 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.

The wearable device maker posted revenue of $363.9 million in the period.

Fitbit shares have increased nearly 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.95, a decrease of slightly more than 1% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FIT at https://www.zacks.com/ap/FIT