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GoPro Searches for a Lifeline as It Lost $51 Million Last Quarter
['Jeremy Gray']
PetaPixel
Today’s financial results paint a dismal picture for the American camera company that was once at the top of the action camera industry.
GoPro says it sold approximately 291,000 camera units last quarter, which is down 38 percent year-over-year.
While the GoPro Mission 1 and Mission 1 Pro launched at the end of May, just a month before the second quarter ended, it’s very bad news that the exciting launch didn’t offer more relief for GoPro.
With GAAP accounting, GoPro lost $51 million, or 30 cents per share, in the second quarter.
The company’s non-GAAP net loss was $36 million, compared to $12 million in Q2 last year.