For Q4, Wall Street is modeling for GoPro to earn 82 cents a share minus items, down 17%, on sales of $690 million, up 9%.
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The company forecast adjusted profit of between 35-45 cents per share on revenue of $500 million-$550 million. The analysts with the most positive view of the shares has a target of $80.
GoPro, the camera company most associated with people filming themselves while doing extreme things, released a less-than-stellar quarterly earnings report today (Oct. 28) and Wall Street took it badly.
However, demand for its cameras globally was strong as revenue from its global market almost tripled to about$210 million.
On a GAAP basis, GoPro’s earnings were 13 cents per share, compared to last year’s 10 cents per share in earnings.
GoPro, Inc., formerly Woodman Labs, Inc., develops hardware and software solutions to alleviate consumer pain points associated with capturing, managing, sharing and enjoying engaging content. The Company’s mountable and wearable cameras and accessories, which the Company refer to as capture devices, enable professional-quality capture and exceptional versatility. Sell-side analysts are projecting earnings of $0.33 for the quarter.
GoPro’s stock declined to a low of $24.40 in extended trading after closing at $30.21 on Wednesday in New York. GoPro went public in June 2014.
Earnings: Analysts expect GoPro to report earnings per share of 29 cents, up from 12 cents in the year-earlier period. The stock is now on track to open at an all-time low on Thursday.
Moreover, the December quarter will likely be gloomy for GoPro as well, as no major product launch is expected for the remaining year. And HERO4 Session and HERO+LCD, are simply not enough to gauge investor interest in the company, especially since its competitors have been busy with their own product launches, including Xiaomi, which launched its own Yi action camera just for $64 (399 Yuan), many times below the price of GoPro’s HERO cameras.
What we will really be looking for is the company’s commentary or even hints at what, and specifically when, it plans to unleash next year.
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GoPro recently released new trim-and-share features for its App. Credit: GoPro.
