GoPro Posts Big Q4 Miss; Guidance Nearly 40% Below Estimates
GoPro Inc (NASDAQ: 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.
UPDATE: Shares were down more than 11.5 percent at $9.43 in Thursday's pre-market trading.
GoPro closed at $10.71 and was halted after-hours before earnings. Where will it open tomorrow? $GPRO
— Benzinga.com (@Benzinga) February 3, 2016
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.