Categories AlphaGraphs, Earnings, Technology

GoPro’s stock gains on better-than-expected Q4 results

GoPro Inc.’s (GPRO) shares gained 1.3% in aftermarket hours on Wednesday after the company topped expectations for revenues and swung to profitability in the fourth quarter of 2018.

Total revenue grew 13% to $377.3 million versus the same quarter last year. GoPro.com represented more than 10% of revenue in the quarter and grew over 50% year-over-year.

GoPro fourth quarter 2018 earnings infographic

On a GAAP basis, the company reported a net income of $32 million, or $0.22 per share, compared to a net loss of $55.8 million, or $0.41 per share, in the prior-year period. Adjusted net income totaled $42 million, or $0.30 per share, beating consensus estimates.

Founder and CEO Nicholas Woodman said, “Thanks to a strong product line-up and efficient execution, GoPro grew both camera unit sell-through and market share in 2018, resulting in GAAP profitability in the fourth quarter and second half of the year. With this momentum and a continued focus on expense management, we’re planning for growth and profitability in 2019.”

GoPro camera units shipment trend from 2015 to 2018

During the quarter, GoPro’s camera unit sell-through rose 20% year-over-year. In the US, the company captured 97% dollar share and 87% unit share of the action camera category. In Japan, GoPro captured 57% unit share, up from 50% last year, according to GfK.

Also see: GoPro Q4 2018 Earnings Conference Call Transcript

In China, unit sell-through grew by 2% year-over-year, while in Thailand, sell-through grew by 169% in units and 154% in dollars, according to GfK. GoPro Plus subscription service reached 199,000 active paying subscribers as of today, up over 50% year-over-year.

In December, GoPro said it was planning to move some of its camera production out of China to avoid tariffs. The company did not specify a location but the shift is expected to take place by the summer of 2019.

 

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

MCD Earnings: McDonald’s comp sales up 12.6% in Q4; profit increases

Fast-food chain McDonald’s Corporation (NYSE: MCD) on Tuesday reported an increase in adjusted earnings for the fourth quarter of 2022 when its revenues remained broadly unchanged. The company said fourth-quarter

GM Earnings: All you need to know about General Motors Q4 2022 earnings results

General Motors Co. (NYSE: GM) reported fourth quarter 2022 earnings results today. Revenue increased 28.4% year-over-year to $43.1 billion. Net income attributable to stockholders increased 14.8% to $2 billion while EPS rose 19.8%

CAT Earnings: Highlights of Caterpillar’s Q4 2022 results

Construction-equipment manufacturer Caterpillar Inc. (NYSE: CAT) reported double-digit growth in fourth-quarter revenues and adjusted earnings. Adjusted net profit increased to $3.86 per share in the December quarter from $2.69 per

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top