Daily Traders Edge

GoPro expects adjusted profitability in third quarter; shares jump

September 07
14:32 2017

Action camera maker GoPro Inc (GPRO.O) said on Thursday it expects to be profitable on an adjusted basis in the third quarter, ahead of the holiday season launch of its newest cameras, sending its shares up 17 percent.

The company’s body-mounted point-of-view cameras have a huge following among action junkies such as surfers and skydivers, but sales have taken a beating in recent quarters after a series of missteps including production issues and delays.

GoPro, which had earlier expected to report an adjusted loss in the third quarter, said strong demand for its cameras and drones was helping it reduce inventory.

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