GoPro reveals unit growth in Q1 2018, but revenues are still down

GoPro reveals unit growth in Q1 2018, but revenues are still down
ФОТО: dpreview.com

GoPro has announced its fiscal first quarter 2018 financial results, revealing 3% year-on-year unit growth with $202 million in revenue. The figures exceeded analysts' expectations, sending GoPro's stock upward on the news, and company CEO Nick Woodman expects a similar positive outcome in the company's second quarter.

According to Woodman, HERO5 Black and HERO6 Black sell-through drove the company's Q1 revenue, as well as the newly launched $200 GoPro HERO action camera. "Initial demand for HERO is promising," said Woodman, "and we expect it to improve as large retail partners like Target and Walmart begin selling the product in the second quarter. "

Though unit growth was up, GoPro saw a 7% year-on-year decrease in revenue. The company previously restructured multiple times to address its financial issues. In its latest financial announcement, the company said its GAAP operating expenses were reduced by 24% year-on-year.

Despite the drop in revenue versus its first quarter last year, GoPro still dominates in the US action camera market, saying it held 86% and 95% of the market share based on unit and dollar volume. "Our first quarter performance makes it clear that there is significant demand for GoPro, at the right price," says Woodman.

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2018-5-5 21:22

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Фото: dpreview.com

GoPro to cut 270 jobs as part of restructuring effort

GoPro plans to eliminate another 270 jobs, the company revealed in its Q1 2017 guidance report, via a combination of layoffs and open position cancellations. The workforce reduction follows a similar layoff of 200 workers announced in November 2016, and is part of a larger business restructuring effort to cut costs and maintain profitability. dpreview.com »

2017-03-16 21:23