Fitbit forecasts current-quarter revenue below estimates

Reuters News
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Posted: Feb 22, 2017 4:23 PM

(Reuters) - Fitbit Inc forecast lower-than-expected revenue for the current quarter, underscoring the wearable device maker's struggles with waning demand for its fitness tracking bands in a maturing market.

The company said it expects revenue of between $270 million to $290 million for the first quarter.

Analysts on average were expecting revenue of $307.5 million, according to Thomson Reuters I/B/E/S.

(Reporting by Laharee Chatterjee in Bengaluru; Editing by Sriraj Kalluvila)