Published on 6 May 2022 on Zacks via Yahoo Finance
GoPro (GPRO) Beats on Q1 Earnings, Revenues Increase Y/Y
GoPro, Inc GPRO reported first-quarter 2022 non-GAAP earnings came of 9 cents per share, which beat the Zacks Consensus Estimate by 80%. The company reported earnings of 3 cents in the year-ago quarter.GoPro generated revenues of $216.7 million, up 6.4% from the year-ago quarter’s levels. It was in line with the consensus mark. The surge in revenues was mainly driven by robust sales of premium products along with an accretive subscriber base.Strong retail partnerships and expanding direct-to-consumer business acted as tailwinds. Also, effective supply chain and channel inventory management and successful new product launches worked as major tailwinds.For the second quarter, revenues are estimated to be $240 million (+/- $5 million). The Zacks Consensus Estimate stands at $270.9 million. Non-GAAP adjusted earnings are expected to be 6 cents per share (+/-2 cents). The consensus mark is pegged at 15 cents per share.Following the lower-than-expected outlook, the shares of GoPro are down 4.7% in the premarket trading on May 6. In the past year, shares have declined 19% compared with industry’s decline of 15.2%.
GoPro, Inc. Price, Consensus and EPS Surprise
