GoPro Misses Already Low Sales Estimates Amid Talks of Sale
- Company recently ended drone line and cut 20% of workforce
- Action-camera maker has hired JPMorgan to adivse on sale
Attendees take photographs of the GoPro Inc. Fusion 360 camera during an event in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
GoPro Inc. reported disappointing sales in the fourth quarter, battered by a dismal holiday season and potentially hastening the likelihood of a sale.
The results for the once high-flying action-camera maker add to months of struggles to diversify revenue and drum up demand for existing products. In January GoPro lowered expectations significantly for fourth-quarter earnings after its Hero line of cameras failed to fill many stockings at Christmas. The company also ended its Karma drone line and said it would cut more than 20 percent of its global workforce.