GoPro misses revenue forecast for holiday quarter

Reuters News
|
Posted: Feb 01, 2018 4:22 PM

(Reuters) - GoPro Inc <GPRO.O> missed its forecast for holiday-quarter revenue on Thursday as it struggles to drive demand for its flagship action cameras.

Revenue fell 38.1 percent to $334.8 million in the fourth quarter ended Dec. 31.

Net loss narrowed to $55.8 million or 41 cents per share from $115.7 million or 82 cents per share, a year earlier.

The company in January pre-announced its fourth quarter results and estimated revenue of $340 million. It also announced plans to exit its Karma drone business.

(Reporting by Laharee Chatterjee in Bengaluru)