GoPro: 2Q Earnings Snapshot
SAN MATEO, Calif. (AP) _ GoPro Inc. (GPRO) on Thursday reported a loss of $37.3 million in its second quarter.
On a per-share basis, the San Mateo, California-based company said it had a loss of 27 cents. Losses, adjusted for stock option expense and costs related to mergers and acquisitions, came to 15 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.
The action video camera maker posted revenue of $282.7 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $271.7 million.
GoPro shares have decreased 21 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.99, a decline of 25 percent in the last 12 months.