Thu, 01 Aug 2019 02:42:10 GMT
Fitbit cuts revenue forecast for 2019
Wearable device producer Fitbit lowered 2019 revenue forecast to $1.43B-$1.48B, compared with previous expectations of $1.52B-$1.58B, blaming weak sales of its cheapest smartwatches Versa Lite, sending shares down 16% on the report.