GoPro (NASDAQ:GPRO) stock was rising a bit after the bell on Thursday as the company reported its quarterly earnings results late in the day, posting a loss that was narrower than what analysts were calling for.
The action camera maker announced that for its second quarter of fiscal 2018, it brought in adjusted losses of of 15 cents per share, which was narrower than the 22 cents per share that analysts polled by Thomson Reuters were calling for in a survey. The figure was wider than the company’s adjusted loss of 9 cents per share from the year-ago quarter.
GoPro also impressed on the revenue front as the company’s sales for the period tallied up to $282.7 million, which was higher than the $270.2 million that analysts polled by Thomson Reuters projected. However, sales were down by 4.7% compared to the year-ago period, when the company amassed revenue of $296.5 million.
The company’s founder and CEO Nick Woodman said that the company’s second half of the fiscal year will be a profitable one, due in part to the company’s restructuring efforts. GoPro laid off more than 20% of its workforce back in January in order to slash costs and return to profitability.
The action camera maker has also added new products to its pipeline, including a $199 starter camera.
GPRO stock gained 0.2% on Thursday after the bell following the company’s strong quarterly earnings showing. Shares were down about 2.1% during regular trading hours.
