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Actionable news in FIT: Fitbit Inc,

Fitbit, Inc. Class A

Fitbit, Inc. reports financial results for the quarter ended June 30, 2017.We analyze the earnings along side the following peers of Fitbit, Inc. - Apple Inc. and NIKE, Inc. Class B (AAPL-US and NKE-US) that have also reported for this period.

  • Summary numbers: Revenues of USD 354.33 million, Net Earnings of USD -58.24 million.
  • Gross margins narrowed from 50.49% to 42.86% compared to the same period last year, operating (EBITDA) margins now -14.25% from 2.86%.
  • Year-on-year change in operating cash flow of -56.61% is about the same as the change in earnings, likely no significant movement in accruals or reserves.
  • Narrowing of operating margins contributed to decline in earnings.

The table below shows the preliminary results and recent trends for key metrics such as revenues and net income growth:

Revenues (mil)354.3298.2565.1500.7587.9
Revenue Growth (%YOY)-39.7-41-20.622.546.8
Earnings (mil)-58.2-60.1-146.326.16.3
Earnings Growth (%YOY)-1018.5-644.4-328-43-1.5
Net Margin (%)-16.4-20.1-
Return on Equity (%)-6.2-6.1-
Return on Assets (%)-15.5-14.3-

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FIT-US's change in revenue this period compared to the same period last year of -39.73% is almost the same as its change in earnings, and is about average among the announced results thus far in its peer group, suggesting that FIT-US is holding onto its market share. Also, for comparison purposes, revenues changed by 18.83% and earnings by 3.06% compared to the immediate last period.Spreadsheet