Fitbit is failing

Fitbit shares fell as much as 20% in trading Tuesday after the company reported quarterly results.

The earnings report Monday showed that fourth-quarter earnings and revenue estimates crushed, but the guidance for the current quarter was weak.

Fitbit said high manufacturing costs and the global launch of new products - the brightness and high - affect its first quarter results.

The company said it expects first-quarter revenue to come in at $ 420 million to $ 440 million, below the $ 484.6 million the Bloomberg consensus was anticipating.

The manufacturer of the followers of fitness recorded adjusted earnings per share of $ 0.35 for the fourth quarter and revenue of $ 711.6 million profit.

Fitbit quarterly report adjusted EPS of $ 0.25 on revenue of $ 648 million expected.

Prior to publication, analysts have focused on whether Fitbit was thriving amid increasing competition in the market to carry.

During the holidays, the application up on lists of the Apple app stores, suggesting to some that Fitbit devices were a popular gift item.

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