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Why GoPro's Shares Popped 17.9% on Wednesday

TheMotleyFool 
0 0 08.11.23
Why GoPro's Shares Popped 17.9% on WednesdayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/012f8213-0bd1-4831-98f2-6d5fae956d6a.png
 

Shares of action camera company (NASDAQ: GPRO) finally had a good day on Wednesday, climbing as much as 20.9% in trading. Shares closed the day up 17.9%, as investors were impressed by the company's earnings report and guidance.

GoPro's third-quarter results were better than expected, despite not being all that impressive. Revenue was down 4% from a year ago to $294.3 million but topped the $281 million that analysts expected. On the bottom line, GoPro reported earnings of $0.04 per share, doubling estimates.

Guidance is what really got investors excited. Management said they expect 2024 shipments to be up over 10% to 3.3 million to 3.5 million units and revenue to be $1.1 billion to $1.2 billion, with gross margin improving from 32% to 37%. That's all a big improvement -- if management can pull it off.

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Source Fool.com

GoPro Inc. A Stock

€0.62
-1.590%
A loss of -1.590% shows a downward development for GoPro Inc. A.

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