GoPro Shares Crushed After Earnings

GoPro just reported its first quarterly report, and the results are better than expected.

The wearable camera company reported adjusted quarterly earnings of $US0.08, better than expectations for $US0.07.

On a “GAAP,” or unadjusted basis, the company lost $US0.24 per share.

Revenue for the quarter totaled $US244.6 million, better than expectations for $US238.1 million. On a year-over-year basis, GoPro’s revenue was up 38.1%, and increased 3.8% when compared to the first quarter.

In after hours trade following the results, shares of GoPro were down 10%.

As of Thursday’s close, GoPro shares had nearly doubled since pricing at $US24 ahead of their initial public offering.

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