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Action camera maker GoPro (GPRO) reported its first quarterly earnings as a public company late Thursday and it wasn’t a pretty picture. The San Mateo, Calif.-based company said it earned 8 cents a share excluding items on sales of $244.6 million in the second quarter. Analysts were expecting adjusted earnings per share of 7 cents on sales of $238 million. On a GAAP basis, GoPro lost $19.8 million, or 24 cents a share. That compares with a loss of $5.1 million, or 6 cents per share, in the year-earlier period. GAAP accounting includes the impact of stock-based compensation and other items. GoPro stock was down 12.5%, near 42, in afternoon trading in the stock market today. Go Pro made its IPO a t 24 on June 26 and hit an all-time high of 49.90 on July 1. “We delivered a strong quarter of operating results driven by increased demand for… Scalper1 News
Scalper1 News