GoPro Shares Slump After Revenue And Earnings Beat -- MarketWatch
4:43 pm ET November 1, 2018 (MarketWatch)
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GoPro Inc. (GPRO) shares fell 9% in the extended session Thursday after the camera maker beat Wall Street revenue and earnings expecations. The company reported third-quarter net losses of $27.1 million, or losses of 19 cents a share, compared with net income of $14.7 million, or 10 cents a share, in the year-ago period. Adjusted for restructuring costs and stock-based compensation among other things, losses were 4 cents a share. Revenue fell to $285.9 million from $329.8 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted losses of 6 cents a share on revenue of $272.3 million. For the fourth quarter, analysts model adjusted earnings of 34 cents a share on sales of $393 million. GoPro stock has fallen 5.2% this year, with the S&P 500 index rising 2.5%.
-Max A. Cherney
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November 01, 2018 16:43 ET (20:43 GMT)
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