GoPro Swings to Loss on Shrinking Margins
The bottom line came in at a $29.9 loss compared to the prior year’s $5.7 million gain on revenues down 19% to $174.7 million compared to $216.7 million. Sell-through was flat at 575,000 units, and flat in North America, though APAC improved 5%. Camera units shipped was down 13% to 523,000, dropping unit inventory to a healthier position for the balance of the year. GoPro.com revenue increased 7% to $94.9 million with hardware up 2% to $71.7 million and subscription and service gaining 25% to $23.2 million. Subscriber count increased 36% ... Log in to view full article.