August 1, 2018 / 8:13 PM / 4 months ago

Fitbit quarterly revenue drops 15.3 pct

Aug 1 (Reuters) - Wearable device maker Fitbit Inc reported a 15.3 percent drop in quarterly revenue on Wednesday, hurt by weak demand for some of its fitness tracking devices.

The company’s net loss widened to $118.3 million, or 49 cents per share, in the second quarter ended June 30 from $58.2 million, or 25 cents per share, a year earlier.

Revenue fell to $299.3 million from $353.3 million. (Reporting by Akanksha Rana in Bengaluru; Editing by Arun Koyyur)

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