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GoPro (GPRO) Beats Q1 Sales Estimate, Reaffirms 2016 Guidance

GoPro, Inc. GPRO just released its first quarter fiscal 2016 earnings results, posting an earnings loss of $-0.73 per share and revenue of $183.54 million.  

Currently, GPRO has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

GoPro:                                                     

1. Missed earnings estimates. The company posted earnings of $-0.73 per share, missing our Zacks Consensus Estimate of a loss of $-0.64 per share (this number excludes $0.05 from non-recurring items).

2. Beat revenue estimates. The company saw revenue figures of $183.54 million, surpassing our consensus estimate of $171 million but declining 49.5% year-over-year.

3. Accounted for 4 of the top 5 products on a unit basis in the combined digital camera/camcorder category in the U.S., according to The NPD Group’s Retail Tracking Service. HERO4 Silver remains the best-selling digital image camera on a unit and dollar basis.

4. Continues to estimate full year 2016 revenue to be in the range of $1.35 billion to $1.5 billion, in line with the guidance provided on February 3, 2016.

5. GPRO was up $0.04, or 0.37%, to $10.75 as of 5:04 PM ET in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at GoPro’s performance over the past 3 months:

GoPro, Inc. engages in producing wearable HD camcorders, known as action cameras and related accessories. The company offers the HERO line of cameras; premium accessories; and mounts comprising equipment-based mounts. It also offers other accessories that include spare batteries, charging accessories, cables to connect its GoPro cameras to televisions and monitors, video transmitters, external microphones, flotation devices, dive filters, and anti-fogging solutions, as well as accessories for the Wi-Fi remotes. GoPro, Inc. is headquartered in San Mateo, California.

Check back later for our full analysis onGoPro’s first quarter earnings report!

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