GoPro suffers a loss, hoping to become profitable again in 2017
GoPro has reported the results of its activities in the third quarter of the current calendar year, reporting that sales fell to 240,6 million dollars. In the third quarter of 2015, the company sold products worth $ 400 million.
In this regard, the company corrected the forecast for total sales for the year. If before the GoPro was planning to close the year with revenue of 1.35- $ 1.5 billion, the company now expects to report sales at the level of 1.25-1.3 billion dollars.
A year earlier the company received a profit of 18.8 million dollars in the last quarter, the manufacturer has suffered losses in the amount of 104 million dollars. Immediately after the publication of the report, the company’s shares fell by about 20%, but then there was an adjustment. I should add that now per share, GoPro will give about $ 11, whereas last summer, the price exceeded $ 60. Company difficult to withstand the growing competition from Chinese manufacturers.
Executive Director of GoPro Nicholas Woodman (Nicholas Woodman) stated that in 2017 the company plans to become profitable again. This, in particular, will contribute to the already released action camera Hero 5 and drone Karma.