Stock News Buzz: GoPro, Inc. (NASDAQ:GPRO)

GoPro, Inc. (NASDAQ:GPRO) reported change of 9.28% to $7.18 with the recent traded volume of 8688548 shares in most recent trading session compared to an average volume of 4681.65K. The stock was changed with 17.13% over last five days period.

The one month performance of stock was noted at 7.65%. GPRO’s shares are moving at 1.84% for the quarter and managed a -32.71% return over the course of the past year and is now at -5.15% since this point in 2018.

GoPro, Inc. (NASDAQ:GPRO) reported financial results for its third quarter ended September 30, 2018.

“GoPro completed a successful third quarter highlighted by a very strong reception and global demand for HERO7 Black,” said founder and CEO Nicholas Woodman. “We expect to achieve profitability in Q4 and for the second-half of 2018, and exit the year with low channel inventory to be well positioned for Q1 2019.”

Recent GoPro Highlights

Revenue for Q3 2018 was $286 million, down 13% year-over-year and up 1% sequentially.

GAAP gross margin for Q3 2018 was 32%, up from 29% in the prior quarter. Non-GAAP gross margin for Q3 2018 was 33%, up from 31% in the prior quarter.

Q3 2018 GAAP net loss of $27 million represents a 27% sequential improvement – resulting in a $0.19 loss per share and a non-GAAP net loss of $6 million, or $0.04 loss per share.

Cash and investments totaled $148 million at the end of Q3 2018.

GoPro reduced GAAP and non-GAAP operating expenses by $10 million, or 8% and 9%, year-over-year, respectively.

HERO7 Black achieved the strongest month-one unit sell-through in company history.

GoPro.com generated a record breaking first month of camera unit sales after the launch of HERO7.

In the US, GoPro held 96% dollar share and 87% unit share of the action camera category. The top-six cameras sold by unit volume were GoPro cameras in Q3 2018 according to the NPD Group.

In the US, Fusion captured 47% dollar share of the spherical camera market according to the NPD Group.

In Europe, in the $150 and above price band, GoPro held 84% unit share, up from 78% a year ago in Q3 2018 according to GfK.

In Japan, GoPro market share in Q3 2018 was 58% and 71% by units and dollars, up from 51% and 61% respectively year-over-year, according to GfK.

In Korea, GoPro market share in Q3 2018 was 47% and 61% by units and dollars, up from 28% and 38% respectively year-over-year, according to GfK.

GoPro Plus subscription service reached 185,000 active paying subscribers at the end of Q3 2018, up 16% sequentially.

Social followers increased by 997,000 in the quarter to approximately 37.4 million driven primarily by increases on YouTube and Instagram.

GoPro content achieved 142 million organic video views in Q3, up 9% sequentially.

Social sharing of GoPro content reached a 21-month high in September.

Jim Lanzone was appointed to GoPro’s Board of Directors. Mr. Lanzone is Chief Digital Officer at CBS and CEO of CBS Interactive.

Entered into a collaboration with Adobe to make thousands of curated GoPro video clips available for license on the Adobe Stock marketplace under a revenue sharing agreement.

For the 19th straight quarter, GoPro is the number one selling camera by unit volume in North America.

 

The stock beta value is 0.43. GPRO stock changed at 21.30% distance from its 200-day moving average. On a similar note, the stock marked distance of 10.81% from its 50-day moving average and moved 12.28% away from its 20-day moving average. The average volatility for the week and month was at 7.13% and 6.51% respectively. Its quarter to quarter sales remained -4.70% and sales observed at 17.50% over past 5 years. The company holds 149.28 million shares outstanding and 111.99 million shares are floated in market.

About the Author

Jacob Roark
Jacob Roark
Jacob Roark also covers the business news across all market sectors for mostvolatilestocks.com. He also has an enormous knowledge of stock market.  Jacob holds an MBA degree from University of Florida. He has more than 10 years of experience in writing financial and market news. He previously worked at a number of companies in different role including web developer, software engineer and product manager. He currently covers Business news section for mostvolatilestocks.com. Email Contact - Jacob@mostvolatilestocks.com.

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