GoPro Reports Q1 Earnings Beat, Raised Guidance

GoPro Inc GPRO shares are volatile after reporting first-quarter earnings beat.

Earnings came in at $(0.07) per share, beating estimates by 2 cents. Sales came in at $243 million, beating estimates by $8.58 million.

"We are innovating in all areas of our business and driving disciplined expense and inventory management. We believe this, combined with the release of exciting new products, will drive continued growth and as a result we are raising revenue and full-year non-GAAP profitability guidance for 2019," said founder and CEO Nicholas Woodman.

Highlights

• Revenue was up 20 percent year-over-year
• GAAP gross margin was 33 percent, up from 22 percent year-over-year
• Cash and investments totaled $133 million at the end of Q1
• GoPro.com represented 10 percent of revenue, growing 90 percent year-over-year

At one point, GoPro shares were down 5.5 percent at $6.30 in after-hours trading, although share ticked higher to around $6.77 at time of publication.

The stock closed Thursday at $6.67, up 5.2 percent.

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