Categories AlphaGraphs, Earnings, Technology
GPRO Earnings: GoPro slips to a loss in Q2 2023 on lower revenues
GoPro, Inc. (NASDAQ: GPRO) reported a net loss for the June quarter, compared to a profit last year, as the action camera maker’s revenues declined.
Second-quarter net loss, on an adjusted basis, was $0.07 per share, compared to earnings of $0.08 per share a year earlier. On a reported basis, net loss was $17.2 million or $0.11 per share in Q2, compared to net income of $2.51 million or $0.02 per share in the prior-year period.
The bottom line was negatively impacted by a 4% decrease in revenues to $241 million. Meanwhile, total camera shipments increased 10% year-over-year to 704,000 units.
“In Q2, GoPro saw an immediate retail sales and GoPro subscription lift as a result of our mid-quarter go-to-market strategy shift that included a return to pre-pandemic pricing and a greater emphasis on retail sales,” said the company’s CEO Nicholas Woodman.
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