GoPro Inc GPRO shares are trading lower by 0.93% to $6.40 during Thursday’s after-hours session after the company reported mixed fourth-quarter earnings results.
What Happened?
GoPro reported quarterly earnings of 12 cents per share which beat the analyst consensus estimate of 9 cents. The company also reported quarterly sales of $321.02 million, which missed the analyst consensus estimate of $322.80 million by less than 1%. This is an 18% decrease over sales of $391.15 million in the same period last year.
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Meanwhile, GoPro.com revenue, including subscription and service revenue, was flat year-over-year at $128 million, or 40% of total revenue. The company highlighted subscription and service revenue increased 30% year-over-year to $22 million.
“In 2022, GoPro achieved GAAP profitability in a very challenging macroeconomic environment. We generated EBITDA of $95 million, or 9% of revenue. Additionally, we grew subscribers to 2.25 million, bringing our subscription and service revenue to an annual run rate of $100 million with 70-80% gross margin,” said Nicholas Woodman, GoPro’s founder and CEO.
“GoPro ended the year with solid balance sheet metrics and $367 million in cash after repaying debt of $125 million and repurchasing $40 million in stock,” said Brian McGee, GoPro’s CFO and COO.
According to data from Benzinga Pro, GPRO has a 52-week high of $9.42 and a 52-week low of $4.50.
Image and article originally from www.benzinga.com. Read the original article here.