Shares of GoPro (GPRO) - Get Report fell sharply in late trading Wednesday, after the maker of sports camera equipment warned that earnings for the second half of its fiscal year will miss expectations.
The stock fell 88 cents, or 17%, to $4.25 in after-hours trading.
The company said in an SEC filing that "due to a late stage production delay, HERO8 Black shipments will shift from the third quarter to the fourth quarter of 2019, resulting in a significant revenue shift between the quarters."
GoPro projected second half revenue growth of 6% to 9%, or $680 million to $715 million, versus its prior estimate for growth of 9% to 12% in the period. Non-GAAP earnings per share will be 33 cents to 39 cents for the period, vs. prior projections of 37 cents to 49 cents.
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