GoPro Beats in Q1 Earnings
Author By Sophia VidaPosted on Action-camera maker GoPro hasn’t been doing so hot in recent years but Thursday was a different story.
The company posted its first quarter results revealing a revenue beat and a smaller than expected loss.
GoPro reported revenue of $202.35 million, while analysts had been expecting $184.2 million. Excluding items, the company posted a loss of 34 cents a share. Analysts had been waiting for a loss of 37 cents a share.
CFO Brian McGee commented, “We experienced solid demand for our HERO6 Black and HERO5 Black cameras, which accounted for over 60 percent of our camera units and dollars shipped in the quarter.”
CEO Nicholas Woodman stated, “Our recent increase in marketing is beginning to have a positive impact on sell-through.”
The stock saw its shares fly around 7% in extended hours after the report.
Shares have been down 35% this year so far.
Disclaimer: We have no position in GoPro Inc. (NASDAQ: GPRO) have not been compensated for this article.
