GoPro, Inc. (NASDAQ: GPRO)
GoPro released their first quarter earnings report yesterday after the closing bell; and while after hours reactions were a bit mixed, there’s no doubt that investors are happy today! Below, we’ll take a look at what we saw from the earnings report, what we saw in the market following the news, and what we can expect from GPRO moving forward. So, let’s get right to it!
GoPro Earnings Beat Both Top Line & EPS Expectations
If you’d like to learn about the GPRO earnings report in detail, click here. However, here are the main points from the report…
- Earnings Per Share – In the first quarter, GoPro generated an EPS of $0.24; 6 cents above what analysts expected to see.
- Revenue – Revenue came in at $363 million; far exceeding the $340.99 million analysts expected.
- Gross Margin – Gross Margin came in at 45.2%; also beating analyst expectations.
All in all, the earnings report was overwhelmingly positive.
How The GPRO Reacted To The News
Strangely, the stock was relatively bearish in after hours trading following the news, however investors seem to be excited today. After a large climb in the morning, the market has corrected and moved toward stable growth; still with impressive gains. Currently (2:08) GPRO is trading at $52.85 per share after a gain of 12.40% so far today!
If you follow my writing, you know that I love to see great earnings reports. They show that a company is not only on track, but beating expectations and most likely to succeed long term. With that being said, I would expect to continue to see gains on both the short and long term outlooks.
What Do You Think?
Where do you think GPRO is headed and why? Let us know in the comments below!