GoPro Sales Skyrocket On Intense Holiday Demand - “We’re feeling good,” said CEO Nicholas Woodman
7 February 2015, 15:11
0
168
GoPro is still crushing it. The wearable camera maker reported fourth quarter earnings on Thursday
that easily surpassed estimates, fueled by strong holiday sales.
Shares initially surged, but soon plummeted 16% following news that the COO had resigned. Net income for the quarter was $122 million, or 83 cents per share, up from $44 million, or 33 cents per share, a year ago. Revenue was up 75% to $634 million.
Analysts polled by Thomson Reuters called for per-share earnings of 70 cents and revenue of $580 million.
“We’re feeling good,” said CEO Nicholas Woodman. “GoPro was one of the best-selling products this holiday, selling-in an average of 1,000 units per hour for the entire quarter. With this many new recruits to the GoPro movement, we’re sure to see some incredible content in 2015.”
Gross margins rose sharply to 47.9%, up from 41.9% in the same period last year.
In a separate announcement Thursday, GoPro revealed plans to launch a channel on streaming platform Roku, evidence of the company’s growing presence in the media and content space. GoPro has been working to leverage the action sports footage generated by its users, pushing out content on YouTube and Facebook pages and recently adding a new executive to head its media division.
In an indication that there’s an audience for this content, GoPro said YouTube views for the quarter rose 34% to 98 million, in conjunction with more videos being published on the channel.
Since the company’s June 2014 IPO, the stock has been highly volatile. Earlier this month, shares plunged more than 12% following rumors that Apple AAPL -0.7% had filed a patent for a GoPro-like camera.
The stock surged nearly 6% after the initial earnings report, before plunging into the red after a regulatory filing revealed COO Nina Richardson’s resignation.
On the earnings call with investors, Woodman said Richardson is pursuing other opportunities. “From all of us at GoPro, we love you and appreciate all that you’ve done for us,” said Woodman.
Trading of the stock was halted immediately prior to the earnings release, but resumed thirty minutes later.
Shares initially surged, but soon plummeted 16% following news that the COO had resigned. Net income for the quarter was $122 million, or 83 cents per share, up from $44 million, or 33 cents per share, a year ago. Revenue was up 75% to $634 million.
Analysts polled by Thomson Reuters called for per-share earnings of 70 cents and revenue of $580 million.
“We’re feeling good,” said CEO Nicholas Woodman. “GoPro was one of the best-selling products this holiday, selling-in an average of 1,000 units per hour for the entire quarter. With this many new recruits to the GoPro movement, we’re sure to see some incredible content in 2015.”
Gross margins rose sharply to 47.9%, up from 41.9% in the same period last year.
In a separate announcement Thursday, GoPro revealed plans to launch a channel on streaming platform Roku, evidence of the company’s growing presence in the media and content space. GoPro has been working to leverage the action sports footage generated by its users, pushing out content on YouTube and Facebook pages and recently adding a new executive to head its media division.
In an indication that there’s an audience for this content, GoPro said YouTube views for the quarter rose 34% to 98 million, in conjunction with more videos being published on the channel.
Since the company’s June 2014 IPO, the stock has been highly volatile. Earlier this month, shares plunged more than 12% following rumors that Apple AAPL -0.7% had filed a patent for a GoPro-like camera.
The stock surged nearly 6% after the initial earnings report, before plunging into the red after a regulatory filing revealed COO Nina Richardson’s resignation.
On the earnings call with investors, Woodman said Richardson is pursuing other opportunities. “From all of us at GoPro, we love you and appreciate all that you’ve done for us,” said Woodman.
Trading of the stock was halted immediately prior to the earnings release, but resumed thirty minutes later.
