Fitbit earnings call
The company attributed much of its success to growing smartwatch sales.
The company increased its overall year-over-year revenue by 5% in Q2.
The company anticipates some earnings losses and a gross margin contraction in the earlier part of 2019, but hopes its health business will exceed $100 million before the end of the year.
In its Q3 2018 earnings call, the company said that diversifying its business model has help stem losses from the declining fitness tracker market.
It was a bit of a bumpy start, but it’s beginning to look like Fitbit’s push into the smartwatch market is bearing fruit.