The company posted adjusted earnings per share of 35 cents, beating Bloomberg’s consensus forecast of 26 cents.
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GoPro Inc (NASDAQ:GPRO) posted net earnings of 24 cents per share, compared to last year’s net loss of 24 cents per share.
The company’s operating expenses amounted to $148.2 million; GoPro’s margins expanded from 42.2% in the same period the year before to 46.3%.
Much like the last few quarters, GoPro’s revenue growth was mainly driven by the sales of its flagship Hero line of action cameras. But perhaps most importantly, Woodman also succinctly elaborated, “Our core business is enjoying terrific momentum as we charge forward into attractive adjacent markets”.
Now, as part of its transformation into a entertainment company, GoPro has launched a content licensing portal: “Think Getty Images, but all GoPro images and videos”, the company has explained.
Meanwhile, in Europe revenue surged to $137.2 million from $67 million a year earlier.
Several analysts have recently commented on the stock. In the combined digital camera and camcorder category in the United States, GoPro accounted for four of the top-five products on a unit basis, according to the company’s press release that cited a report by NPD.
In other GoPro news, General Counsel Sharon S. Zezima sold 6,000 shares of the company’s stock in a transaction dated Monday, June 15th.
GoPro has unveiled GoPro Licensing, a premium content licensing portal for videos created by amateur and professional GoPro users. Also during the call, Woodman mentioned his engineering team is “having a blast” testing and designing this “differentiated” product, perhaps hinting that GoPro might not be simply following in existing drone makers’ footsteps. As I suggested in my earnings preview earlier this week, virtual reality could represent a multibillion-dollar incremental market over the long term for GoPro.
The company’s quarterly earnings per share, excluding items, also came in above analysts’ expectations as did its quarterly revenue.
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Simply put, there’s a lot to love about GoPro’s latest quarter, and the company shows no signs of slowing down. Its software and app are GoPro App and GoPro Studio.
