DJ GoPro 4Q Profit Falls By Over Half
By Allison Prang
GoPro Inc.'s revenue fell by nearly a third in the fourth quarter, while profit declined by over half.
The company's earnings were $44.4 million, or 28 cents a share, a drop from $95.8 million, or 65 cents a share. Adjusted earnings were 39 cents a share. According to FactSet, analysts were expecting 38 cents a share.
Revenue decreased to $357.8 million, down 32%. Analysts were expecting $373.6 million.
The company had 761,000 subscribers at the end of the year which was a 52% bump from the third quarter, the company said.
GoPro shares slid 5.6% to $9.79 in after-hours trading.
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(END) Dow Jones Newswires
February 04, 2021 16:16 ET (21:16 GMT)
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