Why GoPro Inc. Stock Plunged Today
Shares of GoPro Inc. (NASDAQ: GPRO) were down 12.1% as of 3:15 p.m. EDT Thursday after the action camera and drone specialist followed strong third-quarter 2017 results with disappointing fourth-quarter guidance.
More specifically on the former, GoPro's third-quarter revenue climbed 37.1% year over year to $329.8 million, which translated to GAAP net income of $14.7 million, or $0.10 per share. On an adjusted basis -- which excludes restructuring expenses and stock-based compensation -- GoPro's net income was $21.1 million, or $0.15 per share.
By comparison, when GoPro offered preliminary results in in early September, it told investors its results would likely arrive near the high end of its previous outlook, which called for revenue in the range of $290 million to $310 million and a GAAP loss per share of $0.29 to $0.19.
Source: Fool.com
