The shares of GoPro Inc (NASDAQ:GPRO) started trading lower after hours yesterday, declining by 10% despite a better-than-expected second quarter earnings reported by the company.
“The CFO Kurt Amundson said on the call that they expect a seasonally stronger second half of the year for GoPro Inc (NASDAQ:GPRO) with Q3 results above consensus, six to eight cents when it comes to earnings,” reported CNBC’s Seema Mody.
GoPro Inc (NASDAQ:GPRO) reported second-quarter revenues of $244.6 million, indicating an increase of 38.1% year-over-year from $177.1 million in the previous year. “We delivered a strong quarter of operating results driven by increased demand for our Hero 3+ Black Edition and demand for our accessory products,” said Nicholas Woodman, the CEO of GoPro, noted in the press release.
“We are seeing a tremendous volume of quality content generated by our users and a 200% year over year increase in video views on YouTube, which is fueling our virtuous cycle whereby viewership of GoPro Inc (NASDAQ:GPRO) content drives sales. Our second quarter performance demonstrates our users’ continued passion for GoPro Inc (NASDAQ:GPRO)’s products, content and brand,” added Woodman.
Also, the company sees opportunities internationally in under-penetrated as well as select markets overseas, while it aims to broaden its reach to user generated content.
Meanwhile, GoPro Inc (NASDAQ:GPRO)’s net income for the reported quarter came in at $11.8 million, or 8 cents per share, as against a net loss of $3.2 million or 3 cents per share in the previous year’s same quarter. But, the main focus of the investors was hooked to the net loss to the shareholders, which swelled from $5 million or $0.06 per share in the previous year to $19.8 million or $0.24 per share in the second quarter.
Disclosure: none
Suggested Articles:
Countries With Lowest Tax Rates
