FIT - Fitbit Confirms My Fears: Turnaround At Risk
It wasn't pretty.
On February 27th, after the closing bell, Fitbit (FIT) reported the results of its 2018 holiday quarter. The initial impression was a positive one, as revenues and non-GAAP EPS of $571.2 million and $0.14, respectively, beat expectations by $3 million and seven cents.
But the stock's after-hours nosedive that nearly reached -15% suggested that there was much more to the story than the headline numbers alone were telling.
Credit: Cnet
What went wrong
The bearish reaction could naturally be assigned to guidance that failed to impress. For 1Q19, Fitbit's management