"FitBit (FIT) falling 13.4% to $4.80 after its disappointing fourth-quarter earnings. The wearable device maker said it lost two cents a share on revenue of $571 million, while analysts expected the company to breakeven on revenue of $ 588 million. For the current quarter, it expects revenue to come in between $240 million and $255 million, well below the consensus estimate of $340 million. "Consumers are shifting toward smartwatches and away from fitness trackers, and Fitbit(FIT) faces stiff competition in the smartwatch category," writes Wedbush analyst Alicia Reese. "The company has an excellent opportunity ahead with medical applications, but it is unlikely that subscription revenue will contribute meaningfully before 2019."
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Because the Good Life is Just a Pump or Two Away
