GoPro Inc GPRO stock limped into 2016 and it might not get any better. The company announced dismal fourth-quarter revenues and a loss per share in its Q4 earnings report released after Wednesday's market close.
GoPro reported a fourth-quarter loss of $0.08 per share versus analyst consensus of breakeven ($0.00). Fourth-quarter sales were surprisingly sluggish, with the company recording $436 million in sales against analyst estimates of $496 million.
The company posted a $128 million profit for the quarter, less than half of the $303 million profit ledgered in the same quarter in 2014.
GoPro's guidance might be even worse for investors. The company expects Q1 sales of $160-$180 million versus estimates of $300 million.
The company also named a new chief financial officer.
GoPro ended the day at $10.71 per share before being halted in post-market action. Shares are set to resume at 5 p.m. ET.
GoPro closed at $10.71 and was halted after-hours before earnings. Where will it open tomorrow? $GPRO
— Benzinga.com (@Benzinga) February 3, 2016
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.