Action Camera Maker GoPro Inc. Report Big Losses




/ 10 years ago

GoPro camera

The action camera maker GoPro Inc. reports a big quarterly loss as costs nearly doubled during that time. The popular cameras are used by surfers, stunt drivers, skydivers and many more action junkies to record and share their exploits on-line.

GoPro shares fell 11 pct to $42.70 in extended trading after its first financial results since its initial public offering in June. The net loss attributable to the stockholders grew to $19.8 million, or 24 cents per share from the previous $5 million, or 6 cents. Excluding items, GoPro earned 8 cents per share.

The company is expecting a seasonally stronger second half. CFO Jack Lazar forecast earnings of 6-8 cents per share in the current quarter and a revenue of $255 million.

This is higher than the $244.6 million revenue reported in the second quarter, but that 38 percent jump in sales was offset by operating expenses of $119.5 million, almost double of the previous year. They are expecting them to drop back to between $92.5 million and $95 million in the current quarter, Lazar told analysts.

On Thursday stock closing, GoPro shares had doubled from its IPO price to $46.32.

Thank you Reuters for providing us with this information

Image courtesy of GoPro Inc


Topics: ,

Support eTeknix.com

By supporting eTeknix, you help us grow and continue to bring you the latest newsreviews, and competitions. Follow us on FacebookTwitter and Instagram to keep up with the latest technology news, reviews and more. Share your favourite articles, chat with the team and more. Also check out eTeknix YouTube, where you'll find our latest video reviews, event coverage and features in 4K!

Looking for more exciting features on the latest technology? Check out our What We Know So Far section or our Fun Reads for some interesting original features.

eTeknix Facebook eTeknix Twitter eTeknix Instagram eTeknix Instagram
  • Be Social With eTeknix

    Facebook Twitter YouTube Instagram Reddit RSS Discord Patreon TikTok Twitch
  • Features


Send this to a friend
})