UPDATE: Fitbit shares slid dramatically (around 11 percent) later in after-hours trading despite beating expectations.
Fitbit reported its first earnings Wednesday since going public earlier this summer. The wearable fitness-tracker maker smashed street expectations on revenue with $400 million while posting non-GAAP EPS of $0.21. Analysts had looked for Fitbit to generate $0.08 per-share profit on top line of $319 million.
Fitbit detailed that it had sold 4.5 million wearable health and fitness devices in Q2 of 2015.
Since going public on June 18, Fitbit has been on a sharp up-and-up. On its opening day, share prices shot up a whopping 55 percent. Its shares, initially priced at $20, have gone up around 19 percent in the past month and closed at a near all-time high today above $51.
There have been a lot of concerns regarding viability for the wearable company, especially in the wake of the late April launch of the Apple Watch, a much-buzzed-about device that includes several dedicated fitness-tracking features.