GoPro lowers fourth quarter revenue forecast, cuts more than 250 jobs

Reuters News
Posted: Jan 08, 2018 9:16 AM

(Reuters) - GoPro Inc said on Monday it expects fourth-quarter revenue to fall below its earlier forecast and the action camera-maker also said it would lower its workforce to fewer than 1,000 from the current 1,254 employees.

The company has also cut the price of its highly anticipated Hero6 cameras to $399 from $499.

GoPro now expects fourth-quarter revenue of $340 million, compared with its projection of $470 million, plus or minus $10 million, in November.

TechCrunch said last week that GoPro cut 200-300 jobs from its aerial division, which makes the Karma drones.

(Reporting by Laharee Chatterjee in Bengaluru; Editing by Savio D'Souza)