GoPro Beats Q1 Estimates

reported upbeat results for the first quarter on Tuesday. Net income attributable to GoPro shareholders climbed to $16.8 million, or $0.11 per share, versus a year-ago profit of $8.5 million, or $0.08 per share. Excluding items, the company's earnings climbed to $0.24 per share from $0.10 per share. Its revenue climbed 54 percent year-over-year to $363.1 million. However, analysts were expecting a profit of $0.18 per share on revenue of $340.99 million. Operating income climbed 34.5 percent to $22.3 million. Its gross margin widened to 45.1 percent from 40.9 percent. At the end of the quarter, the company had $491.9 million in cash, cash equivalents and marketable securities, versus $422.3 million at December 31, 2014. The average estimate among 70 Estimize users was for earnings of $0.21 per share and revenue of $350.33 million. "We kicked off 2015 by delivering the second highest revenue quarter in GoPro's history," said GoPro Founder and CEO, Nicholas Woodman. "We are making investments in talent, technology, software, and innovative new products that will fuel growth and strengthen GoPro's ecosystem." GoPro also announced its plans to acquire Kolor, a leader in virtual reality and spherical media solutions. GoPro shares fell 4.19 percent to $45.05 in the after-hours trading session.