GoPro (GPRO) stock was surging in after-hours trading on Wednesday, after the wearable action camera maker pre-announced its 2017 first quarter earnings. The company is expecting revenue to be in the "upper end" of its $190 million to $210 million guidance range.
Earnings are also expected at the high end of GoPro's guidance, close to $200 million. The company has forecast for a return to profitability this year.
"We're determined that GoPro's financial performance match the strength of our products and brand. Importantly, expense reductions preserve our product roadmap and we are tracking to full-year non-GAAP profitability in 2017," Founder and CEO Nicholas Woodman said.
The company said the operating expense reduction was achieved by cutting program costs and eliminating 270 jobs.
Shares were rising 6.1% to $7.80 in after-hours trading on Wednesday, after rising 1.5% during the day's trading session.