The Fitbit income for the quarter amounted to 574 million dollars for 2016 in General is 2.17 billion dollars

The company Fitbit has just published a report for the fourth quarter of 2016 and for the year as a whole. The Fitbit income for the quarter amounted to 574 million dollars. However, the cost was more than this amount, so that the end of the quarter was a net loss of $ 146.3 million dollars.

For the year 2016 as a whole, the company managed to receive the income of 2.17 billion, but the year also proved to be unprofitable. Manufacturer of smart bracelets for fitness lost 102.8 million dollars.

Despite the losses, the company remains optimistic, believing that the chosen course will ensure success in the long term. Is that Fitbit are taking steps to reduce costs, increase efficiency and productivity. Among these measures include staff reductions of 107 people (about 6% of employees Fitbit) and exit to the market of smart watches. The drafters of the report noted that 70% of the income Fitbit provide sales of new products, including Charge 2, Alta, Blaze Fitbit and Fitbit Flex 2. Just for 2016 was able to sell 22.3 million devices.

Source: Fitbit



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