GoPro (NASDAQ:GPRO) Updates Q2 2024 Earnings Guidance

GoPro (NASDAQ:GPRO) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of -0.280–0.240 for the period, compared to the consensus EPS 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 Stock Performance

Shares of NASDAQ GPRO traded down $0.13 during trading on Friday, reaching $1.59. 2,482,701 shares of the company traded hands, compared to its average volume of 1,876,168. The company has a quick ratio of 1.35, a current ratio of 1.73 and a debt-to-equity ratio of 0.17. The firm has a 50 day simple moving average of $2.03 and a 200-day simple moving average of $2.73. GoPro has a 52-week low of $1.58 and a 52-week high of $4.45. The stock has a market capitalization of $238.34 million, a PE ratio of -5.04 and a beta of 1.50.

GoPro (NASDAQ:GPRO) last announced its earnings results on Wednesday, February 7th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. GoPro had a negative net margin of 5.29% and a negative return on equity of 11.66%. The business had revenue of $295.42 million during the quarter, compared to analysts’ expectations of $326.99 million. Equities research analysts anticipate that GoPro will post -0.38 earnings per share for the current year.

Analyst Ratings Changes

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

GoPro Company Profile

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.