NEW YORK (TheStreet) -- Shares of video content hardware and software developer GoPro (GPRO) are tumbling after the company reported a net loss during the second quarter that was nearly four times larger than its loss a year ago. However, the company's earnings per share and revenue results in its first report since its initial public offering in June beat the consensus forecasts of analysts.
WHAT'S NEW: GoPro's Q2 EPS was 8c, which beat analysts' consensus by 2c. The company's Q2 revenue was $244.6M, exceeding analysts' consensus of $237.73M. The company said it is seeing a "tremendous" volume of quality content generated by its users and a 200% year over year increase in video views on YouTube, "which is fueling our virtuous cycle whereby viewership of GoPro content drives sales." The company also commented that its Q2 performance "demonstrates our users' continued passion for GoPro's products, content and brand." Still, GoPro reported that its Q2 net loss was $19.8M, which is almost four times bigger than the $5.1M loss the company experienced a year ago.
WHAT'S NOTABLE: During its earnings conference call, GoPro said that it is anticipating Q3 revenue to be in the range of $255M-$265M, which is higher than analysts' consensus of $253.49M. In an interview with CNBC this morning, GoPro CEO Nicholas Woodman said that the company is continuing to expand the scale of content channels and that its stock price movement has no effect on the company's strategy. He said that the firm is aiming to help people share content. He believes with people creating and managing more content, it increases pull from user-generated content to be distributed.