Go Pro shares tick up after its 2Q revenues soar by more than 70%

Published 07/21/2015, 07:06 PM
Updated 07/21/2015, 07:10 PM
Wearable-camera company Go Pro saw its revenues soar, spurred by the launch of its HERO 4 session
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Investing.com -- Shares in GoPro Inc (NASDAQ:GPRO) gained more than 1.5% in after-hours trading after the California-based wearable-camera company saw its revenue soar by 72% during its second quarter of the year.

During the period, the company's launch of its HERO 4 Session and Hero+ LCD helped boost its revenue to $419.9 million on the quarter. As a result, GoPro earned a net profit of $35 million or 0.24 per share for the period. By comparison, the wearable-camera company posted a loss of $19.8 million or 0.24 per share during the same quarter in 2014.

At the conclusion of its first quarter, GoPro officials offered forward guidance of per share earnings of 0.24 to 0.26 on revenues of $380-$400 million.

"I couldn't be more proud of our aggressive pace of innovation. With the introduction of HERO4 Session and HERO+ LCD, we've launched five new cameras in the past 10 months, exciting both new and existing customers and contributing to strong second quarter results," GoPro founder and CEO Nicholas Woodman said in a statement. "Our core business is enjoying terrific momentum as we charge forward into attractive adjacent markets."

Outside the United States, revenues in Asia and the pacific region nearly tripled to $70.4 million from $24.9 million during the same period last year.

In Europe, revenues more than doubled to $137.2 million from $67 million in the second quarter of 2014.

Go Pro shares gained 0.96 or 1.55% in after-hours trading to 62.04.

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