NEW YORK (TheStreet) -- GoPro (GPRO) - Get Report stock is retreating 13.17% to $26.23 in after-hours trading on Wednesday after the company reported lower than expected financial results for the 2015 third quarter.
The mountable and wearable camera maker reported earnings of 25 cents per share for the quarter ended September 30, missing estimates by 4 cents.
Revenue increased 43% year-over-year to $400.3 million, but fell short of estimates of $433.6 million.
International sales accounted for more than half of total revenue for the quarter, while China has been the company's fastest growing market based on revenue for the first nine months of 2015.
"I am proud of our year-to-date accomplishments in which we posted strong financial results and expanded our portfolio of products, however our business in the third quarter was clearly more difficult than anticipated," CEO Nicholas Woodman said in a statement.
Additionally, GoPro's board approved a $300 million stock buyback program, which will being in the current quarter.
Separately, TheStreet Ratings team rates GOPRO INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
We rate GOPRO INC (GPRO) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: GPRO