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Fitbit reports lower sales than estimates for the current quarter and shares fall 15%



PHOTO FILE: Fitbit Blaze watches are on display at CES 2016 in Las Vegas, Nevada, January 6, 2016. REUTERS / Steve Marcus / File Photo

(Reuters) – Fitbit Inc., a maker of mobile devices, expects first-quarter sales to be lower than analysts' estimates on Wednesday, as the company expects a drop in average selling prices, resulting in a drop in sales. 15% of his actions.

Fitbit expects a turnover of between $ 250 and $ 268 million in the first quarter. Analysts on average expected a turnover of $ 272.3 million, according to Refinitiv's IBES data.

The company expects an adjusted net loss per share of between 24 and 22 cents, while analysts expect a loss of 15 cents.

Fitbit has announced that it sold 5.6 million devices in the fourth quarter, exceeding the estimated 5 million, according to the FactSet research firm. The average selling price decreased by 2% to $ 100 per device.

The company posted earnings of $ 15.4 million, or 6 cents a share, for the quarter ended December 31, compared with a loss of $ 45.5 million, or 19 cents a share, a year earlier.

Excluding items, the company earned 14 cents per share.

Revenues increased slightly from $ 570.8 million to $ 571.2 million.

Analysts expected on average a gain of 7 cents per share for a turnover of 569.3 million dollars.

Report by Akanksha Rana in Bengaluru; Edited by Shinjini Ganguli and Sriraj Kalluvila

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