Fitbit forecasts downbeat Christmas period

Fitbit disappointed analysts with downbeat revenue forecasts for the Christmas period. The wearable fitness device maker has been hit by soft demand and production issues related to its new Flex 2 wristband.

“We continue to grow and are profitable, however not at the pace previously expected. We are focused on improving the utility of our products and integrating more deeply into the healthcare ecosystem and believe we can leverage our brand and community ...