Fitbit Slashes Guidance as Versa Lite Flops
Fitness tracker and smartwatch company Fitbit (NYSE: FIT) reported its second-quarter results after the market closed on July 31. While tracker sales rebounded, the Versa Lite smartwatch was a flop. That led Fitbit to slash its guidance for the full year, and to change its approach to pricing and promotions. The company's streak of revenue growth will end in the third quarter, raising questions about its turnaround.
Metric
Q2 2019
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