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Fitbit Offers a Rarity for Tech IPOs: Profit

Fitbit has a very unusual characteristic among tech companies going public these days — it actually makes money. A lot of money.

In the first quarter of 2015, San Francisco-based Fitbit, slated to make its market debut Thursday, generated net income of $48 million, a more than fivefold increase from a year earlier.

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This article originally appeared on Recode.net.