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GoPro Earnings: GPRO Stock Climbs 9% Higher on Surprise Q3 Beat

GPRO beat EPS estimates by 6 cents

GoPro (NASDAQ:GPRO) earnings for the camera company’s third quarter of 2019 have GPRO stock taking off on Thursday. That’s due to it reporting a non-GAAP loss per share of -42 cents. This comes in above Wall Street’s estimate of -48 cents. Revenue of $131.17 billion also blows past analysts’ estimates of $126.35 million.

GoPro Earnings: GPRO Stock Climbs 9% Higher on Surprise Q3 Beat
Source: Larry George II / Shutterstock.com

Here’s what else is worth mentioning about the GoPro earnings report for Q3 2019.

  • Non-GAAP per-share losses are 950% wider than the -4 cents in the third quarter of 2018.
  • Revenue is down 54.1% YoY from $285.94 million.
  • Operating loss for the quarter comes in at -$71.2 million.
  • That’s a 233.40% wider operating loss than the -$21.35 million reported during the same time last year.
  • The GoPro earnings report also includes a net loss of -$74.81 million.
  • This is 176.20% worse than its net loss of -$27.09 million in Q3 2018.

Nicholas Woodman, founder and CEO of GoPro, has this to say about the most recent GPRO stock earnings.

“Third quarter results are above the guidance provided on October 2nd. We are reiterating our annual revenue outlook of six-to-nine percent growth, and increasing our profitability outlook for the fourth quarter and 2019. HERO8 Black and MAX are generating the highest positive social sentiment metrics of any new GoPro and are setting record unit sales for new cameras at GoPro.com. Both products appear to be unquestionable hits with consumers and we’re optimistic about their impact on our business going forward.”

GPRO stock was up 9.34% in after-hours trading on Thursday. The stock closed out the day without much change.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/11/gopro-earnings-send-grpo-stock-up/.

©2019 InvestorPlace Media, LLC