GoPro Inc. (NASDAQ: GPRO), a specialist in action cameras, has reported higher earnings and revenues for the first quarter of 2022.
Earnings, excluding non-recurring items, increased to $0.09 per share in the March quarter from $0.03 per share a year earlier. On an unadjusted basis, net profit was $5.7 million or $0.04 per share, compared to a loss of $10.2 million or $0.07 per share in the first quarter of 2021.
The improvement in bottom-line performance was driven by a 6% increase in revenues to $216.7 million. A decline in sales in the Americas was more than offset by higher sales in the overseas market.
Check this space to read management/analysts’ comments on GoPro’s Q1 2022 results
“We hit the ground running in 2022, successfully growing year-over-year revenue and profitability while launching exciting new products. With several additional products slated for launch later this year, we expect to continue this TAM-expanding trend,” said Nicholas Woodman, GoPro’s CEO.
