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Article Date: August 2017
Word Count: 335

GoPro Slashes Spending to Narrow Loss


Net loss was $30,536,000 in the second quarter ended Jun. 30 compared to a loss of $91,767,000 last year as sales gained 34% to $296,526,000 from $220,755,000 driven by improved camera sales and some Karma drone sales too. Sell-through of GoPro cameras increased 18% sequentially, and the above-$300 category which includes the HERO5 was up 13% globally, including 7% in EMEA and 194% in Japan. Gross margin plummeted 650 basis points to 35.6%, but improved sequentially. While GAAP profits are likely a long way off, GPRO sees a return to non-GAAP profitability in 2017 with low-double-digit revenue growth for the ... Log in to view full article.

 


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