Tech Five: Despite bright earnings report, Fitbit shares tumble

Fitbit has enjoyed a successful run since it went public in June. The company reported bright earnings Wednesday that topped analyst estimates — but shares were still tumbling near double digits Thursday morning.

Let's take a look at the tech stocks to watch Thursday:

Fitbit (FIT): Fitbit's second quarter results included the company's highest quarterly revenue in its eight-year history, according to the company's CEO. Although the the wearable-fitness tracker company reported surging sales, it also posted narrower margins compared to a year earlier. Shares dipped more than 9% during morning trading.

Apple (AAPL): The mystery numbers of Apple Music have finally been unveiled. Company executives told Paste BN that Apple locked in 11 million trial members one month after unveiling the service. Apple Music made a splash in the music streaming market, but has garnered some complaints about its messy functionality. Regardless, these numbers seem to be a bright spot for Apple, whose stock has been peeling away for the past few days. As of Thursday morning, company shares were slightly down.

Facebook (FB): Facebook announced a new feature that allows users to connect and interact with public figures on the site via live video. This new feature comes as the company puts an increased focus on video and mobile advertising. Company shares were up nearly 2% during morning trading.

Tesla (TSLA): Tesla reported its earnings Wednesday, reporting net losses that nearly tripled in the second quarter compared to the same quarter last year. The company's losses were less than what Wall Street had expected, but cut its sales outlook for the year -- leading shares to fall more than 11% Thursday morning.The company said is plans to begin Model X deliveries later in the year.

Microsoft (MSFT): The day after Netflix announced its overly generous parental leave policy (which grants unlimited paternity/maternity leave) Microsoft unveiled an update to its policy for new moms and dads as well. The company said it will extend maternity and paternity leave to 12 weeks at full pay, among other changes. This policy update comes after the company laid off nearly 8,000 employees earlier this month. Company shares were slightly down Thursday morning.

Follow Paste BN reporter Trisha Thadani on Twitter: @TrishaThadani