GoPro reported adjusted earnings of $11.8 million, or 8 cents a share, up from a loss of $3.2 million, or 3 cents a share, in the same period one year earlier. Revenue rose 38% year-over-year to $244.6 million. Analysts polled by Thomson Reuters had expected earnings of 6 cents a share on revenue of $238 million.
Some investors have concerns about GoPro's ability to sell $200 to $400 video cameras when rival companies can imitate the wearable high-definition recorders at a cheaper price, according to The Wall Street Journal. The article also notes smartphones continue to improve their camera capabilities, which gives customers less incentive to buy a dedicated camera.
Must Read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. The stock was down 10.45% to $42.96 at 10:35 a.m. GPRO data by YCharts
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV