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Fitbit Shares Plunge 15 Percent on Guidance Despite Beat

Fitbit said it expected Q1 adjusted earnings per share between 0 and 2 cents; Wall Street was expecting about 23 cents.

Fitbit

Fitbit reported earnings and revenue Monday that topped analysts’ expectations, but its shares plunged after weaker-than-expected guidance for the current quarter.

The wearable fitness device maker posted fourth-quarter earnings of 35 cents per share, adjusted, on $712 million in revenue. Earnings rose from 21 cents per share in the prior-year period, while sales climbed from $370 million.

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This article originally appeared on Recode.net.

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