May 2, 2018 / 8:12 PM / 7 months ago

Fitbit reports 17 pct drop in quarterly revenue

May 2 (Reuters) - Fitbit Inc reported a 17 percent drop in first-quarter revenue on Wednesday, as the wearable device maker sold fewer products in an increasingly competitive market.

The company's net loss widened to $80.9 million, or 34 cents per share, in the quarter ended March 31, from a loss of $60.1 million, or 27 cents per share, a year earlier.

Fitbit's revenue fell to $247.9 million from $298.9 million. (Reporting by Munsif Vengattil and Shariq Khan in Bengaluru; Editing by Arun Koyyur)

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