Why GoPro Inc. Stock Flew Higher Today
Shares of GoPro Inc. (NASDAQ: GPRO) are flying higher today, up 23.7% as of 12:30 p.m. EDT, after the action camera and drone specialist announced better-than-expected second-quarter 2017 results.
Quarterly revenue increased 34% year over year to $296.5 million -- well above guidance provided last quarter for a range of $260 million to $280 million -- helped by an 18% sequential increase in global sell-through of cameras. GoPro's Karma drone was also the No. 2-selling drone brand in the U.S. during the quarter, according to NPD data.
On the bottom line, that translated to an adjusted net loss of $12.9 million, or $0.09 per share, narrowed from an adjusted net loss of $72.6 million, or $0.52 per share in the same year-ago period. By comparison, analysts' consensus estimates predicted GoPro would incur a much larger adjusted net loss of $0.16 per share.
Source: Fool.com
