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Article Date: November 2017
Word Count: 242

GoPro Turns Q3 Profit


Management says the company has turned the corner as GPRO posted net income of $14,661,000 against a loss of $104,068,000 in the third quarter on a 37% jump in sales to $329,805,000 from $240,569,000 last year. But tepid Q4 guidance for $460 - $480 million in sales and $0.25 - $0.35 per share ($42 million) in net income sent shares down 10% in after hours trading. Gross margin was 70 basis points lower at 39.6% but a massive $90 million reduction in SG&A to 37.1% of revenue from 88.4% last year put GPRO into the black. The bottom line was ... Log in to view full article.

 


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