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Fitbit Jumps 7%: Q2 Beats, Says Smartwatch Ahead of Schedule

Shares of wearable tech pioneer Fitbit (FIT) are up 33 cents, or 7%, at $5.40, after the company this afternoon reported Q2 revenue that topped analysts’ expectations, and a narrower-than-expected profit per share, forecast this quarter’s results more or less in line with consensus, and raised the bottom end of its outlook for the full year.

In a statement, the company’s co-founder and CEO, James Park, said that demand from consumers had turned out "better than anticipated, enabling Fitbit to reduce channel inventory and generate better...