GoPro Surging After Q2 Earnings Beat

GoPro, Inc GPRO shares are surging after posting a big earnings beat in the second quarter.

GoPro reported a Q2 earnings loss of 9 cents per share, beating analyst estimates by 16 cents. Second0quarter revenue was $297 million, up 34 percent year-over-year and a 36 percent sequential increase.

More than 50 percent of GoPro’s revenue was generated outside of the United States in the second quarter.

GoPro is forecasting Q3 adjusted EPS of $(0.11)-$(0.01) vs. estimates of $(0.12). Company management is projecting Q3 sales of $290 million-$310 million while analysts are projecting $278.5 million in sales.

"GoPro is building momentum," said CEO Nicholas Woodman. "Strong demand combined with our cost management and margin initiatives contributed to GoPro's EBITDA positive performance in the second quarter. HERO6 and Fusion, our 5.2K spherical camera, are on course to launch later this year and we continue to track toward our goal of full-year, non-GAAP profitability in 2017."

GoPro shares were up more than 13 percent, trading around $9.35 in the after-hours session.