GoPro Shares Jump More Than 10% After Results, Outlook Beat Street Estimates
GoPro Inc. shares jumped in the extended session Thursday after the wearable video-camera maker's quarterly results and outlook beat Wall Street estimates. GoPro shares surged 12% to $9.24 after hours. The company reported a second-quarter loss of $30.5 million, or 22 cents a share, compared to a loss of $91.8 million, or 66 cents a share, in the year-ago period. The adjusted loss for the second quarter was 9 cents a share. Revenue rose to $296.5 million from $220.8 million in the year-ago period. Analysts surveyed by FactSet had estimated a loss of 25 cents a share on revenue of $269.1 million. For the third quarter, GoPro estimates a per-share loss of 6 cents a share to earnings of 5 cents a share a share on revenue of $290 million to $310 million. Analysts had estimated a loss of 12 cents a share on revenue of $278.5 million.
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