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WEARABLE device maker Fitbit reported a surprise third-quarter profit on Wednesday, driven by its fast-growing smartwatch business that contributed to nearly half of its total revenue.
Shares of the San Francisco-based company, which has also kept a tight leash on operating costs, jumped nearly 10 pc to $ 5.19 in after-market trading.
Fitbit sold 3.5 million devices in the reported quarter, beating estimates of 3.42 million. Average selling price increased 3pc to $ 108 per device.
The company, which is popular for its colorful fitness trackers, is a late entrant to the smartwatch market and has been competing with Apple and Samsung.
Reuters
Irish Independent
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