Investing.com - Health and fitness wearable device maker (NYSE:Fitbit) is looking to revive its fortunes with the release of a new smartwatch this year."Our smartwatch, which we believe will deliver the best health and fitness experience in the category, is on track for delivery ahead of the holiday season,” co-founder and CEO James Park said Wednesday.He said this would help drive a strong performance in the second half of the year.Fitbit has suffered from declining sales and production problems along with layoffs amid competition from Apple (NASDAQ:AAPL).Fitbit’s second-quarter earnings released Wednesday beat analyst estimates.It reported a loss per share of 8 cents against an estimated loss of 15 cents and earnings a year earlier of 12 cents.Revenues of $353.3 million beat an estimate of $341.6 million but were well down on $586.5 million a year earlier.It sold 3.4 million devices in the quarter, largely in line with estimates.The company forecast third-quarter revenues in a range of $380-$400 million. It expects a loss per share in a range of 2-5 cents.Fitbit’s shares jumped 14.40% to $5.80 as of 10:00 ET Thursday. They hit levels of $50 in August 2015, shortly after listing.