Shares of GoPro Inc. (NASDAQ: GPRO) gained during Thursday’s extended trading session after the company reported stronger-than-expected earnings for the third quarter of 2020.
Total revenue more than doubled annually to $280.5 million during the three-month period and surpassed the estimates. As a result, the action camera maker turned to a profit of $0.20 per share in the third quarter, on an adjusted basis, from a loss of $0.42 per share in the same period of last year.
On an unadjusted basis, the company reported a net income of $3.3 million or $0.02 per share, compared to a loss of $74.8 million, or $0.51 per share in the prior-year period.
Read management/analysts’ comments on GoPro’s Q3 earnings
GoPro’s shares gained on Thursday evening, following the earnings announcement, after closing the regular session higher.