FIT - FIT Stock Drops 24HRS After Beating Q1 Expectations

On Wednesday, May 1, the Fitbit Q1 earnings were released, which topped both revenue and earnings expectations. Twenty-four laters later, however, FIT stock is down just over 5%. Perhaps this is a one-off or because the San Francisco-based company also reported a mixed outlook for the current period in the first-quarter report.

Here’s what we know.

Yesterday, Fitbit (NYSE:FIT) reported its first-quarter earnings. In the report, the American company, which provides health and fitness devices, said revenue increased to $272 million in Q1. For perspective, the company saw ...