Fitbit shares soared as much as 13 percent in after-hours trading on Wednesday after the company beat earnings and revenue expectations for the third quarter.
The fitness tracker manufacturer reported earnings of 4 cents per share, while analysts had expected a loss of one cent per share. The company reported $394 million in revenue compared to the $381 million the Street estimated.
Fitbit also gave guidance for fourth-quarter earnings that exceeded analysts' estimates. The company expects earnings greater than 7 cents per share compared to the 6 cents per share analysts estimated. Fitbit, however, expects revenue to be above $560 million in the fourth quarter, while analysts expected $569 million.