• Reuters, Friday, November 4, 2016 9:41 AM

Wearable fitness device maker Fitbit Inc's revenue forecast for the key-holiday shopping quarter fell well below of analysts' estimates, hurt by soft demand and production issues related to its new Flex 2 wristband. Shares of the company, which also reported lower-than-expected quarterly revenue, plummeted more than 30 percent in extended trading on Wednesday and were set to hit record-low levels on Thursday. Fitbit forecast revenue of $725 million to $750 million for the October-December quarter. That was well below analysts' average estimate of $985.1 million, according to Thomson Reuters I/B/E/S.

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