GoPro Beats Second-quarter Earnings Expectations, Says Will Be Net Income Profitable In Q4

GoPro beat second-quarter earnings and revenue expectations Wednesday. GoPro reported a net loss of $91.8 million, or a loss of 66 cents per share, compared to a profit of $35 million, or 24 cents per share, in the year-earlier period. The company reported an adjusted loss per share of 52 cents, compared to the FactSet consensus of a loss of 58 cents. Revenue was $220.8 million, down from $419.9 million in the year-earlier period, but above the FactSet consensus of $194.6 million. GoPro issued revenue guidance between $1.35 billion and $1.5 billion for 2016, above the FactSet consensus of $1.3 billion, and said it would be GAAP and non-GAAP income profitable in the fourth-quarter. The shares initially shot up 10%, before falling 3%.