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GoPro shares rally as company expects Q3 profit

Published 09/07/2017, 01:40 PM
© Reuters.  GoPro shares rally as company expects Q3 profit
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Investing.com - GoPro Inc 's (NASDAQ:GPRO) shares jumped on Thursday after the company updated its third quarter guidance, saying that it now expects revenue will come in between $290 million and $310 million, at the high end of the previous guidance. Analysts are anticipating third quarter revenue of $304.04M.

GoPro expects gross margin between 36% and 38% and to be profitable on a non-GAAP basis the quarter (although not profitable on a GAAP basis).

GoPro reported second quarter results on August 2. The company lost $0.09 per share in that quarter, but the result was $0.16 better than analysts were expecting. Revenue grew over 34% year-over-year to $296.53 million and was $26.97 million better than the consensus analyst forecast.

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