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In an article published Wednesday on Statista, Data Journalist Felix Richter looks into GoPro Inc (NASDAQ: GPRO)’s “Breakneck Speed” growth since its IPO in 2012. The chart below illustrates the company’s revenue growth since that moment.
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At first, investors were, to a certain degree, skeptical about the company going public, since its portfolio counted with only one product – with no shortage of competition. Despite the substantial success of the GoPro action camera, the skeptics argued that “the market offered little room for differentiation and the predominantly young target group would soon be drawn to cheap alternatives to GoPro’s products.”
However, 13 months have gone by since GoPro’s IPO, and the company continues to deliver, proving the skeptics wrong. The stock started trading at an IPO price of $24.00, and is now trading above $64, up almost 170 percent. Moreover, Richter highlights, the company reported yet another great quarter last Tuesday. Earnings came in at $0.35 per share on revenue of $419.92 million, beating the Street’s consensus estimate of $0.25 per share and $395.27 million. “What’s more important though, is that the company managed to reignite its growth engine after a temporary dip in early 2014,” the analyst adds.
Apparently, many investors and analysts underestimated the potential and strength of GoPro’s brand -Richter notes, as the company continues to lead the market it helped create.
“GoPro even managed the rare feat of becoming synonymous with the product it sells, making it hard for competitors to gain a foothold in the market. For GoPro, the next logical step is a camera-carrying drone, which the company plans to release in 2016,” the analyst concludes.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.