SAN FRANCISCO (AP) -- Fitbit Inc. (FIT) on Wednesday reported third-quarter net income of $26.1 million.

On a per-share basis, the San Francisco-based company said it had profit of 11 cents. Earnings, adjusted for one-time gains and costs, came to 19 cents per share.

The results met Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was also for earnings of 19 cents per share.

The wearable device maker posted revenue of $503.8 million in the period, which beat Street forecasts. Eleven analysts surveyed by Zacks expected $503.5 million.

For the current quarter ending in December, Fitbit expects its per-share earnings to range from 14 cents to 18 cents.

The company said it expects revenue in the range of $725 million to $750 million for the fiscal fourth quarter.

Fitbit expects full-year earnings in the range of 55 cents to 59 cents per share, with revenue ranging from $2.32 billion to $2.35 billion.

Fitbit shares have decreased 57 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.81, a fall of 69 percent in the last 12 months.

--Associated Press.