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Fitbit Sees 17 Percent Q2 Revenue Decline

August 5, 2020

Fitbit Inc., which has agreed to a merger with Google, reported sales fell 16.7% in the second quarter, to $261.3 million from $313.6 million a year ago. The net loss came to $104.1 million, or 39 cents a share, against a net loss of $68.5 million, or 27 cents, a year ago. On an adjusted basis, the net loss was reduced to $31.5 million, or 26 cents per share, from $35.8 million, or 14 cents, a year earlier. Read more on SGBMedia.