Wearable device maker Fitbit sold more units in Q4 than expected, but its sales forecast for Q1 fell short of the mark.
But Fitbit forecast Q1 sales that were below Wall Street expectations.Wearable device maker Fitbit forecast first-quarter revenue below analysts' estimates on Wednesday, as the company expects a decline in average selling price, sending its shares down 15 percent.
The company forecast adjusted net loss per share in the range of 24 cents to 22 cents, while analysts are projecting a loss of 15 cents.
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