Finance: GoPro is jumping after its earnings beat (GPRO)


A skier wears a GoPro camera on his helmet as he rides down the slopes in the ski resort of Meribel

GoPro shares are popping Thursday after it beat Wall Street's expectations on first-quarter earnings. Perhaps its most impressive part of the earnings beat was its revenue beat, of more than $20 million.

GoPro is gaining more than 7% in post-market trading Thursday after it beat Wall Street expectations for the first-quarter.

The action-camera maker reported adjusted earnings of -$0.34 a share, beating the Wall Street estimate of -$0.36. Revenue came in at $202.3 million, topping the $182.2 million that was expected.

GoPro founder and CEO Nicholas Woodman gave investors an extra dose of optimism. He said sales of one of its main products, the HERO, should increase going forward. “Initial demand for HERO is promising and we expect it to improve as large retail partners like Target and Walmart begin selling the product in the second quarter," Woodman said.

"We began to step up marketing programs in March which, coupled with overall expense controls, solid channel management and second half new product launches, gives us confidence for a successful 2018 for GoPro," Woodman added.

GoPro continued its dominance in the digital imaging business. It was the number one selling camera in the digital imaging category for the 17th straight quarter in North America, according to the earnings release.

GoPro is down this year 33.3%.

This story is developing…


Please enter your comment!
Please enter your name here