Apparently, no one is buying Fitbit, but myself. Shares are down over 10% this morning as the company slashes outlook. Here are a few notes from this morning’s press release:
- Fitbit sees preliminary Q4 revenue $572-$580M vs. prior guidance of $725-$750.
- Fitbit sees Q4 EPS -$(0.5) – $(0.51) vs prior guidance of 0.14 -$0.18.
- Fitbit Set to cut workforce 5-10%