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GoPro earnings crush expectations

Akin Oyedele   

GoPro earnings crush expectations

Tour de France GoPros close ups of riders

YouTube/GoPro

GoPro reported second-quarter earnings on Tuesday that beat on the top and bottom lines.

The company posted adjusted earnings per share of 35 cents, beating Bloomberg's consensus forecast of 26 cents. Sales came in at $419.9 million, compared to the estimate of $395.2 million.

In the earnings statement, CEO Nick Woodman said: "I couldn't be more proud of our aggressive pace of innovation. With the introduction of HERO4 Session and HERO+ LCD, we've launched five new cameras in the past 10 months, exciting both new and existing customers and contributing to strong second quarter results."

The company said China is now a top ten revenue-generating country.

During the quarter, GoPro announced plans to release a drone in the first half of 2016.

There has been persistent concern among analysts about competition in the point-of-view cameras market.

More to come ...

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