GoPro earnings (NASDAQ:GPRO) were better than expected when compared to Wall Street’s guidance, helping to lift GPRO stock slightly as the company readiest itself for its fiscal 2019.
For its fourth quarter of the fiscal 2018, the San Mateo, Calif.-based maker of action cameras said that its net income tallied up to $32 million, or 22 cents per share. In the year-ago quarter, the company posted a loss of $56 million, which was roughly 41 cents per share at the time.
GoPro added that its adjusted earnings for the period came in at a positive 30 cents per share, which is the same amount that the company posted in adjusted losses during its fourth quarter of fiscal 2017. Analysts were calling for adjusted earnings of 26 cents per share, according to a FactSet survey.
The camera manufacturer revealed it brought in revenue of $377 million for its fourth quarter, a 12.5% surge when compared to its year-ago quarter. The Wall Street guidance projected revenue of $374 million, per FactSet. Unit sell through of GoPro’s cameras was also higher year-over-year, growing 20%.
As of Wednesday, the company has amassed 199,000 active paying subscribers on its GoPro Plus subscription service, which nets you protection for all your GoPro devices, unlimited cloud storage, discounts on accessories and more. This figure is a 50% improvement over the year-ago period.
GPRO stock was edging higher about 0.8% after the bell off the back of a positive end to the year for the company. Shares had been increasing roughly 0.8% during regular trading hours as well on Wednesday.
