GoPro Tumbles After Another Disappointing Earnings Report
- Karma was returned to market this week after November recall
- Company has struggled to expand beyond action cameras
GoPro Gives Disappointing Outlook for Sales
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GoPro Inc. tumbled as much as 14 percent after giving a disappointing outlook for sales this quarter, missing analysts’ estimates and reflecting slow demand for its action cameras and the delayed launch of a new drone.
Revenue will be $190 million to $210 million in the first quarter, GoPro said in a statement Thursday after the markets closed. Analysts were expecting $267.6 million, on average. In the fourth quarter, sales rose 24 percent to $540.6 million, also missing analysts’ average estimate for $573.3 million.