Fitbit’s Q3 net sales rise nearly 5%

Fitbit’s Q3 net sales rise nearly 5%

Fitbit Inc. had a wider loss compared with a year ago, but reported a nearly 5% increase in net sales.

Fitbit had a loss of $54.5 million, compared with a loss of $51.9 million the comparable quarter a year ago. Its loss was 20 cents a share, the same as a year earlier. The quarter ended Oct. 3.

Income tax expense rose by more than double.

Its adjusted loss was 3 cents a share. According to FactSet, analysts were expecting a loss of 12 cents a share.

Revenue climbed 4.8% from the comparable quarter a year ago to $363.9 million.

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