GoPro Beats Estimates on Renewed Demand for Action Cameras
- Revenue, profit were better than analysts estimated in quarter
- Company still has plenty to prove to win back investors
GoPro Fusion 360 camera
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
GoPro Inc. posted results that exceeded analysts’ estimates, buoyed by strong demand for the company’s signature action camera and suggesting it’s finding a way back to growth and profits.
Revenue was $283 million in the second quarter, the company said Thursday in a statement. That was up 40 percent from the previous period and beat the average analyst estimate of $270 million. The company reported a loss of $37 million, or a loss of 27 cents a share. Analysts anticipated a loss of 32 cents.