GoPro, Inc. engages in producing wearable HD camcorders, known as action cameras and related accessories.
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Excluding items, the company lost 63 cents per share, bigger than the 60 cents analysts had expected. Conveniently enough, the company released some footage from its new professional six-camera VR rig, called the Omni, right before earnings were released. GoPro told investors it expected to bring in between $160 million to $180 million in revenue for the first quarter 2016. For the quarter ending Sep-16, 14 analysts have a mean sales target of 362.66 million whilst for the year ending Dec-16, 17 analysts have a mean target of 1,374.75 million. And while we had to make the hard decision to delay our drone, Karma, the upside is that Karma’s launch should now benefit from the holidays. The stock experienced a loss of -6.05% and settled its last trade at $10.71.
GoPro has been flagging in sales for the last quarter, and a lot of analysts say that the release of the GoPro Karma is aimed to turn the tide and let the company recover its current and projected financial losses. Global sales represented more than half of total revenue in the quarter, as GoPro held six of the top-10 camcorders in Europe on a unit basis, and China remained a top-10 market for the company. This quarter’s loss is predictable to be much worse, as the company struggles to offload its newer Hero cameras.
The company said it has viewed GoPro as a content-enabling platform but that it has only served that objective for GoPro camera owners.
“Today, GoPro announced that Karma will be released this holiday season”.
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The question now for drone fans is: Do you wait for the Karma or just go out and buy the excellent DJI Phantom 4? GoPro’s Studio was also installed almost 1.5 million times, bringing cumulative installs for the editing software to 16.5 million. Revenue guidance for 2016 remains between $1.35 billion to $1.5 billion. This is because the company has taken new initiatives and investments, is upgrading existing products, and is also working out on improving the software experience.
