The wearable company’s 2016 Q4 revenue fell below expectations. Although the company anticipated revenue of $750 million, Fitbit estimates its Q4 revenue was between $572 million and $580 million.
“Fourth quarter results are expected to be below our prior guidance range,” Fitbit CEO James Park said in a statement. “However, we are confident this performance is not reflective of the value of our brand, market-leading platform and company’s long-term potential.”
The company’s 2016 end of year report will go live in February.
More articles on health IT:
DirectTrust reports 24% increase in PHI sharing for 2016
Oracle CEO forecasts 80% of corporate data centers to close by 2025
Driverless cars to be tested on UW-Madison, Epic campuses
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
