The company may very well beat expectations set by its conservative outlook delivered in 1Q19. But another disappointing guidance for the upcoming quarter would not catch me by surprise.
This is a quote from my Fitbit (FIT) earnings preview that, consistent with recent results, turned out to be pretty accurate. On July 31, after the closing bell, the San Francisco-based wearable device maker delivered an all-around beat that did little to stop shares from falling about 20% in post-earnings activity. The main culprit was a slashed full-year guidance that now anticipates slightly lower