Fitbit posts smaller quarterly loss

(Reuters) - Wearable device maker Fitbit Inc reported a smaller quarterly loss on Wednesday, as it benefited from higher sales of its smartwatches and trackers. The company's net loss narrowed to $79.5 million, or 31 cents per share, in the first quarter ended March 30, from $80.9 million, or 34 cents per share, a year earlier. Revenue rose to $271.9 million from $247.9 million.

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