What Overshadowed GoPro's Guidance Update Today

GoPro Inc. (NASDAQ: GPRO) told investors during its second-quarter earnings report last month that it expected revenue of $290 million to $310 million in the third quarter and gross margin of 36% to 38%. And the company still expected a loss on both a non-GAAP and GAAP basis.

That changed on Thursday when management said revenue and gross margin would be at the high end of expectations. GoPro even expects to be profitable on a non-GAAP basis (not on GAAP) in the third quarter, which bodes well for profitability in the second half of the year.

Image source: GoPro.

Source: Fool.com