GoPro Jumps on Narrower Than Expected Loss in Q2

Shares of struggling camera maker GoPro saw its shares pop on better than expected second quarter results on Thursday.

The company’s founder and CEO Nick Woodman has said that GoPro is “on track” and will be profitable in the second half of the year.

For the second quarter, GoPro revealed a loss per share of 15 cents while 22 cents was expected. Revenue at $282.7 million was also better than the $270.2 million that was expected.

Shares soared as much as 10% in after-hours trading on the report.

“We expect GPRO to post in-line 2Q18 results,” analyst Paul Coster said in a note to clients titled “2Q18 Preview: Low Expectations and Elevated Short Interest Sets Up for a Potential Move on Solid Print.”

“Expectations are muted, short-interest remains quite elevated, so the stock might be set up for a short squeeze on solid results.”

Disclaimer: We have no position in GoPro Inc. (NASDAQ: GPRO) and have not been compensated for this article.