GoPro crushes expectations

GoPro just reported fourth quarter earnings and they are a huge beat.

Adjusted earnings per share came in at $US0.99 on sales of $US633.9 million.

Wall Street’s expectations were for earnings per share of $US0.70 on revenue of $US581.9 million, according to Bloomberg.

GoPro’s gross margin in the fourth quarter came in at 48%, above the company’s expectations for margins of 43.5%-44.5%.

For the full-year 2014, GoPro revenue totaled $US1.39 billion, up 41% from the prior year. Units shipped in 2014 rose to 34% to 5,180.

Ahead of this announcement, shares of GoPro were halted and remain halted in after hours trade. GoPro shares are set to resume trade at 4:35 pm ET.

GoPro, which makes wearable cameras, has been one of the most controversial stocks in the market since it went public in June and is about 30% off its all-time high hit in late September and early October.

On Thursday ahead of its earnings report, GoPro shares were up about 5%, and since its market debut, the stock is up more than 70%.

More to come …

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