Fitbit's Q1 Beat Trumps Mixed Guidance, Stock Up 14%

Fitbit Inc FIT shares are trading higher by $0.77 (14 percent) at $6.45 in Thursday's session.

At this time, the Street is putting much more emphasis on its Q1 EPS beat $0.04 and sales beat of $18 million as opposed to lower Q2 guidance. The company gave FY 2017 EPS guidance that surrounds the current estimate of $(0.35) and sales to come in at or above estimate of $1.5 billion.

After a higher open, Fitbit's stock had a brief $0.04 retreat to $6.07 before rallying all the way to $6.80. That marks its highest level since January 27, when peaked at $7.39. The following day it swooned to $6.06, when the company issued lower Q4 guidance.

Since retreating from its high, the stock has found intraday support at $6.33 and has been consolidating at the $6.50 area.