GoPro (NASDAQ:GPRO) Releases Q2 2024 Earnings Guidance

GoPro (NASDAQ:GPRO) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of -0.280–0.240 for the period, compared to the consensus earnings per share estimate of -0.120. The company issued revenue guidance of $165.0 million-$175.0 million, compared to the consensus revenue estimate of $225.8 million.

GoPro Price Performance

Shares of NASDAQ GPRO traded down $0.13 during mid-day trading on Friday, hitting $1.59. 2,482,701 shares of the stock were exchanged, compared to its average volume of 1,876,168. The stock’s fifty day simple moving average is $2.03 and its two-hundred day simple moving average is $2.73. GoPro has a twelve month low of $1.58 and a twelve month high of $4.45. The company has a market cap of $238.34 million, a P/E ratio of -5.04 and a beta of 1.50. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.35 and a current ratio of 1.73.

GoPro (NASDAQ:GPRO) last posted its quarterly earnings data on Wednesday, February 7th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $295.42 million during the quarter, compared to analysts’ expectations of $326.99 million. GoPro had a negative net margin of 5.29% and a negative return on equity of 11.66%. As a group, analysts forecast that GoPro will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated a neutral rating and set a $2.00 price target on shares of GoPro in a research report on Wednesday.

About GoPro

GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the Americas, Europe, the Middle East, Africa, the Asia and Pacific region, and internationally. The company provides cloud connected HERO12 Black, HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, and HERO9 Black waterproof cameras; MAX, a 360-degree waterproof camera; Premium and Premium+ subscription services, which include full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription that offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik desktop and mobile apps that enable users to get their favorite photos and videos with footage from any phone or camera.