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GoPro Shares Up After Reporting 20% Sales Growth

GoPro Shares Up After Reporting 20% Sales Growth - GoPro NASDAQ:GPRO

GoPro Inc GPRO shares are trading higher following Wednesday's Q2 report. GoPro reported an adjusted loss of $0.52 versus expectations of a loss of $0.58. Sales were $220.75 million versus estimates of $194.310 million, a growth rate of 20 percent year-on-year.

The blowout quarter comes on the heels of continued strength in Hero4 sales. The company said the "HERO4 Silver remains the best-selling digital image camera on a unit and dollar basis for the seventh consecutive quarter."

The action camera company also launched an initiative called GoPro Care in the US, which is designed as a fee-based service allowing for support assistance, extended product warrenties, and accidental damage coverage. GoPro also inked a multi-year deal with Red Bull, which enables GoPro to know to the exclusive provider of point-of-view imaging.

Shares of GoPro were trading higher by about $0.22 or 2 percent to $11.79.

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