Published on 9 Feb 2024 on Zacks via Yahoo Finance
GoPro's (GPRO) Q4 Earnings & Revenues Miss Estimates
GoPro, Inc. GPRO reported fourth-quarter 2023 non-GAAP earnings of 2 cents per share, which missed the Zacks Consensus Estimate by 33.3%. The company reported earnings of 12 cents in the year-ago quarter.GoPro generated revenues of $295.4 million, down 8% year over year. The top line also missed the consensus mark by 9.7%.GPRO added that consumers were looking for discounts irrespective of already low prices in the holiday season. This led to lower-than-expected sell-through of its HERO10 Black product (priced at $249), which was not sold at a discount.For 2023, revenues came in at $1 billion, down 8% year over year. Non-GAAP loss per share was 20 cents for the year. The company reported earnings of 47 cents in 2022.Shares lost 14.1% in the pre-market trading on Feb 8. In the past year, shares of GPRO have declined 48.4% of their value against the sub-industry’s growth of 6%.
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