GoPro Inc (NASDAQ:GPRO) released the earnings results from its most recently completed quarter after closing bell tonight, posting non-GAAP earnings of 12 cents per share on revenue of $280 million, a 45.7% increase year over year.
Analysts had been hoping for earnings of 8 cents per share on $264 million in revenue. In the previous quarter, the camera maker reported earnings of 8 cents per share on $244.6 million in revenue. In the same quarter last year, GoPro reported non-GAAP earnings of 1 cent per share.
Key metrics from GoPro’s earnings report
GAAP earnings were 10 cets per share, compared to GAAP losses or 1 cent per share in the same quarter last year. GoPro reported a GAAP gross margin of 44.3%, compared to 33.3% in the same quarter last year and 42.1% in the previous quarter. GAAP operating income was $13.5 million for the quarter, compared to operating losses of $.7 million in last year’s third quarter.
The camera maker’s non-GAAP gross margin was 44.5%, compared to 33.5% in last year’s third quarter and 42.2% in the previous quarter.
GoPro launches HERO4 camera
During the quarter, GoPro launched its newest line of cameras, which management said was the most successful launch in the company’s history.
“HERO4 pushes the performance envelope of our Emmy Award winning capture technology,” said GoPro founder and CEO Nicholas Woodman in a statement. “Advancements in our desktop and mobile content management applications continue to make it easier for our customers to create and share compelling content stories that go on to virally drive awareness and demand for our business. This positions us well for an exciting holiday season.”
The company also reported that GoPro content published on YouTube during the quarter was up by 92% year over year. The camera maker also reported that views on its YouTube channel rose 99% and that video minutes watched on its YouTube channel climbed by more than 133% year over year. These metrics are especially important for investors who are basing their bull thesis on GoPro’s aim to become a media company in addition to a hardware company.