GoPro Posts Another Quarterly Beat But Shares Fall

GoPro reported better-than-expected first-quarter sales and earnings on Tuesday, with revenue growing 54% year-over-year to a company record. The wearable video camera maker reported net income of $16.8 million, or 11 cents a share, compared with $8.5 million, or 8 cents a share, in the year-earlier period. Excluding one-time items, GoPro said it earned 24 cents, above the Wall Street estimate of 18 cents a share, according to FactSet. Revenue of $363.1 million beat the FactSet consensus estimate of $341 million. However, shares of GoPro fell 1.5% in after-hours trade. GoPro has beat profit and sales expectations in each of the three quarters since it went public in June 2014.