Why GoPro Shares Are Falling

GoPro Inc GPRO shares are trading lower by 18.63% at $7.12 after the company reported worse-than-expected first-quarter sales results.

GoPro reported quarterly earnings of 9 cents per share which beat the analyst consensus estimate of 6 cents. The company also reported quarterly sales of $216.71 million which missed the analyst consensus estimate of $217.10 million.

"We hit the ground running in 2022, successfully growing year-over-year revenue and profitability while launching exciting new products," said Nicholas Woodman, GoPro's founder and CEO. "With several additional products slated for launch later this year, we expect to continue this TAM-expanding trend."

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According to data from Benzinga Pro, GoPro has a 52-week high of $12.97 and a 52-week low of $6.86.