Wearable device maker Fitbit (FIT) reported a 10.5% fall in quarterly profit as the company continues to invest heavily amid rising competition.
Subscribe to Data Sheet, Fortune’s daily newsletter about the business of technology.
The company’s net income attributable to shareholders fell to $6.3 million, or three cents per share, in the second quarter ended July 2, from $7.1 million, or seven cents per share, a year earlier.
Fitbit isn’t just a wearables company anymore. For more, watch:
However, revenue rose 46.5% to $586.5 million.