Fitbit Tops Profit Forecasts

Shares of Fitbit (FIT) - Get Report were higher Wednesday after posting solid second-quarter results. The wearable device maker posted earnings of $0.12 a share, a penny ahead of forecasts. Revenue of $586.5 million also beat estimates. The company said it sold nearly six million devices in the second-quarter, its highest sales since the last holiday season. Fitbit also reiterated its full-year guidance, saying it expects earnings to be between $1.12 and $1.24 a share and revenue to be between $2.5 billion and $2.6 billion.