GoPro guided Q1 revenue between $330 million and $340 million with 15-17 cents in EPS

GoPro shares skyrocketed as much as 14% after the company reported strong fourth-quarter results on Thursday. But all the gains were wiped out, and the stock plunged more than 15% to $46.04 in after-hours trading. Investors were disappointed by unexpectedly weak guidance for the current quarter and sudden departure of the company’s chief operating officer.

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GoPro COO Richardson resigns

At the earnings call, GoPro said that it expected the first-quarter earnings to come in the range of 15 to 17 cents a share. Analysts polled by Thomson Reuters were expecting GoPro to post at least 17 cents in Q1 earnings. The company guided Q1 revenue between $330 million and $340 million, above the consensus estimate of $324.74 million.

Separately, the San Mateo-based company said in a regulatory filing that its chief operating officer Nina Richardson is leaving the company on February 27. She has been with the company since February 2013. GoPro CEO Nick Woodman said during the earnings call that Richardson was pursuing other opportunities.

The action camera maker reported Q4 non-GAAP earnings of 99 cents a share, compared to 33 cents in the same quarter a year ago. Revenue for the quarter surged 75% YoY to $633.90 million, beating the consensus estimate of $580 million in revenue. Gross margins also widened from 41.9% to 47.9%. The company’s significant revenue growth was powered by strong demand for its action cameras in the holiday quarter.

GoPro sold 2.4 million action cameras in Q4

GoPro sold 2.4 million action cameras during the quarter, and 5.2 million units for the full year. It ended the quarter with $422.3 million in cash and cash equivalents, up 316% from Q4, 2013. In the past few months, GoPro has taken concrete steps to transform itself into a media company. Last month, the company launched a channel for LG smart TVs. On Thursday, the company launched a channel for Roku streaming platform, which has more than 10 million users.

GoPro shares were down 12.82% to $47.40 in pre-market trading Friday.