GoPro Conference Call Highlights

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GoPro
GRPO
reported its third quarter earnings. Shares of the company are up 11%. Below are some key highlights from its conference call: • Financially, we exceeded revenue, gross margin and EPS guidance and recorded an outstanding quarter. • Third quarter revenue was $280 million and represents a 46% increase year-over-year. • Gross margin was 44.5%, and our operating income was $27.6 million with an EPS of $0.12. • To scale awareness of the HERO4's launch we held synchronized media events in Tokyo, London, and San Francisco, resulting in more than 850 articles, generating an estimated 1.3 billion impressions. • We also reached out to our database of more than 4.6 million customers with news of the HERO4 along with a spectacular four-minute launch film. • With roughly 17 million views, Adventure: Life in 4K, produced by our GoPro original production team is the first of a seven part series we will release during the holidays promoting the HERO4. • Moving quickly to meet demand during this important holiday season. • Part of why the HERO4 had such a great start is due to terrific retail execution. • Earlier this month, we announced that important GoPro POP expansion began with North America's largest consumer electronics retailer: BestBuy. • In the past year, we've grown our software and services team with more than 50 new employees, including engineers, designers, and project managers. • They're part of a larger team charged with fulfilling our long-term vision and bringing together GoPro Studio in the GoPro app as a cross-platform content management solution for our customers. • We view the manage pillar of our business as critical for helping our customers realize why they bought a GoPro in the first place, for that great video edit or photo that allows them to easily relive and share a meaningful experience. • Be it on your mobile, desktop, or television, our goal is to give you easy access to your content so you can watch, edit, share, and enjoy it with friends. • Flux, a powerful slow-motion and speed ramping tool that makes it easy to add high-impact cinematic speed-related effects to your videos. • In the third quarter, GoPro's Studio software has been downloaded over 1 million times. • The mobile app, 2.4 million times. • The final pillars of our business strategy are share and enjoy. • The process whereby our customers share their content online and we then distribute best of GoPro content as programming across the GoPro Network for millions of fans around the world to enjoy. • We are excited about the growth of our customers' content sharing across all social channels. • Q3 views totaled 72 million, an increase of 99% year-over-year, while total minutes viewed was up more than 130% -- 133% • During the same period, our recently launched Xbox 360 and Xbox One GoPro channels generated 6.5 million views. Financials: • It's truly an exciting time for GoPro. • Third-quarter revenue of $280 million was up 46% year-over-year and up • 14% sequentially. • Gross margin for the quarter was 44.5. • Operating income for the third quarter was 27.6 million or 9.9% of revenue, an increase of 25.3 million year-over-year, and 9.8 million sequentially. • Adjusted EBITDA was 36.2 million or 12.9% of revenue, up 320% year-over-year and up 41% sequentially.
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Posted In: EarningsNews
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