Camera maker GoPro reported earnings that beat analyst expectations across the board on Tuesday. Revenue came in at $US420 million, beating the consensus forecast of $US395.2 million, while its $US0.35 EPS was higher than the $US0.26 EPS estimate.
The storyline is consistent with what we’ve seen in the past year. GoPro’s sales have grown at an impressive rate in the past 12 months, contributing to a nearly 50% rise in its share price over the same period.
This chart put together by Statista clearly illustrates GoPro’s upward trend. Except for the first quarter of 2014, GoPro’s revenue has seen 50% year-over-year growth almost every quarter, as it jumped another 72% in its most recent quarter.
“A myriad of things are contributing to GoPro’s business of selling cameras: incremental distribution into both Europe and Asia is augmenting growth, new product launches are providing channel fill which is driving high margins, and optimism around new products like virtual reality and drones have investors optimistic around those future adjacent opportunities,” Pacific Crest wrote in a report.
But GoPro also continues to face increased competition in the point-of-view camera market, and there are persistent concerns about its limited product offerings, which may be why its shares are down about 2% as of Wednesday afternoon.
Business Insider Emails & Alerts
Site highlights each day to your inbox.