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Fitbit turned a third quarter non-GAAP profit as smartwatch revenue now consists of 49 percent of sales, its healthcare business gains momentum and Europe, Middle East and Africa (EMEA) delivers growth.
The company remains a work in progress, but CEO James Park noted that Fitbit is keeping its focus as it transforms its business. Much of Fitbit’s transformation depends on using its platform to impact health outcomes.
The company reported a net loss of $2.1 million, or a penny a share, on revenue of $393.6 million, up from $392.5 million a year ago. Non-GAAP earnings were $10 million, or 4 cents a share. Wall Street was expecting Fitbit to report a loss of a penny a share on revenue of
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