Fitbit pops over 25% on earnings

Fitbit pops over 25% on earnings
Fitbit pops over 25% on earnings

Fitbit jumped over 25 percent in early trading Thursday after beating earnings and revenue estimates for the third quarter on Wednesday.

The company surpassed Street expectations of a one cent loss per share, reporting earnings of 4 cents per share. Fitbit beat revenue estimates of $381 million as well, reporting $394 million for the quarter.

Fitbit delivered mixed guidance for the fourth quarter. It expects earnings over 7 cents per share, beating analyst estimates of 6 cents per share, though it expects revenue to be lower than estimates of $569 million, expecting just $560 million.

Fitbit's smartwatch revenue grew significantly over the third quarter, making up 49 percent of total revenue, compared to under 10 percent less than a year ago.

-CNBC's Carmin Chappell contributed to this report.

Get the latest news delivered to your inbox

Follow us on social media networks

PREV UK crime agency investigates Brexit campaigner Banks over loans
NEXT Pittsburgh synagogue shooting suspect pleads not guilty