Why GoPro Stock Dropped Today
Shares of GoPro (NASDAQ: GPRO) fell, after the action-camera specialist announced weaker-than-expected second-quarter results relative to expectations -- even though it also followed by raising its full-year 2019 guidance.
On the former, GoPro's quarterly revenue climbed 3.4% year over year to $292.4 million and would have risen 9% had it not been for the company's decision to exit the drone market last year. That translated to adjusted net income of $4 million, or $0.03 per share, swinging from a loss of $0.15 per share a year ago.
Analysts, on average, were looking for adjusted (non-GAAP) net income of $0.04 per share on revenue of $302 million.
Quelle Fool.com
