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GoPro Revenue Rises

|Includes:GoPro (GPRO)

Originally published at www.seclive.com

GoPro Inc. (NASDAQ:GPRO) announced its financial results for the second quarter of fiscal year 2014, its first report since completing its initial public offering in June. GoPro revenues jumped 38% to $244.6M, beating analyst expectations of $238M. Adjusted earnings were $11.8M and $0.08 per share, a jump from the year-ago net loss of $3.2M and $0.03 per share. Overall earnings actually worsened, with the company posting a net loss of $19.8M and $0.24 per share. Back in June, the company listed its stock at the high end of its projected $21.00 to $24.00 price range, at $24.00 per share, and GoPro shares have soared since then. Despite the strong improvement in revenue the company's stock price has dropped nearly 10% since its earnings announcement. GoPro is exploring ways to stay ahead of the competition as potential competitors could attempt to undercut the $200 to $400 price range for GoPro cameras.

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: GPRO