Fitbit Sold 6.5 Million Devices In Q4 Despite Earnings Miss

Fitbit Inc FIT released its fourth quarter earnings after Wednesday's close. Shares for the wearable technology company were near an all-time low ahead of the report.

• Fitbit reports Q4 Adj. EPS of $(0.56), missing by $0.06
• Sales came in at $574 million, missing by $2 million
• Sees Q1 Adj. EPS in the range of $(0.20)-$(0.18), against analysts estimates of $(0.15)
• Forecasting sales of $270-$290 million in Q1, $1.5-$1.7 billion for FY17
• Sold 6.5 million devices in Q4, 22.3 million in FY16

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“Our ten-year history of building this category, coupled with our powerful brand and engaged global community gives us confidence we are making the right investments to support our vision and drive long-term success,” said CEO James Park. “We will leverage our leadership position, recently acquired talent and IP, and the valuable data we collect to improve demand and continue to set the pace of innovation for the industry through more personalized experiences, deeper insights and guidance, expansion into new categories and deeper integration within the healthcare system.”

Shares were up about 1 percent after hours.