GoPro, Inc. (NASDAQ: GPRO) reported second quarter financial results after markets closed Thursday. The company said that it had a net loss of $0.09 per share and $296.5 million in revenue, compared with consensus estimates from Thomson Reuters that called for a net loss of $0.25 per share and $269.56 million in revenue. The same period from last year had a net loss of $0.52 per share and $220.75 million in revenue.
More than 50% of GoPro’s revenue was generated in markets outside of the U.S. in the second quarter.
During the quarter, GoPro gained 1.6 million new social media followers. Instagram followers grew 39% from last year to 13.7 million in the second quarter, with a 94% increase in international followers. Facebook video views of GoPro content reached 58.3 million in the first half of 2017, up almost 60% year-over-year. YouTube videos of GoPro content in the first half of 2017 have seen a 65% increase in median organic viewership per video year-over-year.
In terms of guidance for the coming quarter, GoPro expects to see a net loss of $0.06 per share, give or take a nickel, and revenues of $300 million, plus or minus $10 million. There are consensus estimates calling for a net loss of $0.12 per share and $278.54 million in revenue.
On the books, cash, cash equivalents and marketable securities totaled $149.8 million at the end of the quarter, compared with $218.0 million at the end of the previous fiscal year.
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Founder and CEO Nick Woodman, commented:
GoPro is building momentum. Strong demand combined with our cost management and margin initiatives contributed to GoPro’s EBITDA positive performance in the second quarter. HERO6 and Fusion, our 5.2K spherical camera, are on course to launch later this year and we continue to track toward our goal of full-year, non-GAAP profitability in 2017.
Shares of GoPro closed Thursday up nearly 3% at $8.26, with a consensus analyst price target of $8.46 and a 52-week range of $7.14 to $17.68. Following the release of the earnings report the stock was up close to 14% at $9.40 in the after-hours trading session.
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