- Fitbit (FIT) pulled up 8% after reporting late Tuesday that its second-quarter sales and earnings easily topped analyst targets, although gross margins came in just below forecasts.
Ahead of a holiday season that will be important for Fitbit Inc. and the entire wearables industry, Fitbit executives implied Tuesday that new product offerings would be upgrades of existing products instead of brand-new devices.
After beating second-quarter earnings expectations Tuesday, Chief Financial Officer Bill Zerella, when asked whether yet-to-be-announced holiday offerings will be new devices or upgrades, said the latter.
“These will be upgrades of existing products, which actually will give us the strongest lineup of new and compelling devices,” Zerella told MarketWatch in an interview ahead of the company’s conference call.
Chief Executive James Park used a different term less than an hour later, during the call: “New products.”
“We have additional new products to come this year,” Park said, later adding, “Fitbit will have more new products for consumers to choose from for this year’s holiday season than we’ve ever had before.”
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