CNBC — GoPro posted quarterly results Wednesday that missed analysts’ expectations, as sales plunged from the previous year and guidance for the current quarter came in lower than expected.
The wearable camera maker reported an adjusted fourth-quarter loss of 8 cents per share, ex-items, on $437 million in revenue, compared with a profit of 99 cents per share and sales of $634 million a year earlier.
Analysts on average expected GoPro to break even in the fourth quarter on $496 million in revenue, according to a consensus estimate from Thomson Reuters. However, sales were almost exactly in line with the company’s previous guidance of $435 million.
“Growth slowed in the second half of the year and we recognize the need to develop software solutions that make it easier for our customers to offload, access and edit their GoPro content,” CEO Nick Woodman said in a statement. READ MORE
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