Why GoPro Stock Plunged Today
Shares of GoPro (NASDAQ: GPRO) were down 24.8% as of 11:00 a.m. EDT Thursday after the action-camera specialist reduced its full-year 2019 outlook.
Blaming "a late stage production delay" for its just-announced HERO8 Black camera, GoPro now expects 2019 revenue in the range of $1.215 billion to $1.25 billion, good for growth of 6% to 9% from 2018, which should translate to adjusted (non-GAAP) earnings per share of $0.30 to $0.35. By comparison, GoPro's previous guidance (provided in early August) called for 2019 revenue growth of 9% to 12%, and most analysts were looking for higher 2019 earnings of $0.39 per share.
IMAGE SOURCE: GOPRO
Source Fool.com
