GoPro released its second quarter earnings report after closing bell tonight, posting adjusted earnings of 35 cents per share, a 72% year over year increase, on revenue of $419.9 million. Analysts had been expecting earnings of 26 cents per share and revenue of $395.22 million. In last year’s second quarter, the action camera manufacturer posted earnings of 8 cents per share and revenue of $244.6 million.
Key metrics from GoPro’s (GPRO) earnings report
GoPro Inc (NASDAQ:GPRO) posted net earnings of 24 cents per share, compared to last year’s net loss of 24 cents per share. GAAP gross margin rose 420 basis points to 46.3%, while non-GAAP gross margin also climbed 420 basis points, reaching 46.4%. Adjusted EBITDA was $75.349 million, a 192.9% increase compared to last year’s $25.724 million.
“I couldn’t be more proud of our aggressive pace of innovation, said GoPro Founder and CEO Nicholas Woodman in a statement. “With the introduction of HERO4 Session and HERO+ LCD, we’ve launched five new cameras in the past 10 months, exciting both new and existing customers and contributing to strong second quarter results.”
GoPro’s (GPRO) recent highlights
He added that they’re seeing strong momentum with the addition of more and more new cameras. Among the new products they have launched recently are the Hero4 Session camera, the Hero+ LCD, and accessories like the Ball Joint Buckle and Floaty for Hero4 Session.
GoPro Inc (NASDAQ:GPRO) also announced that its cameras are now sold in over 40,000 stores globally.
As of this writing, shares of GoPro Inc (NASDAQ:GPRO) were up 0.56% at $62.45 per share in after-hours trades.