What's Going On With GoPro Stock?

GoPro Inc GPRO shares are trading lower by 7% to $2.94 Thursday afternoon, pulling back following Wednesday's strength, after the reported better-than-expected third-quarter financial results.

What Happened With Earnings?

GoPro's third-quarter earnings were better than expected, with a profit of 4 cents per share, surpassing analyst predictions by 100%. However, this represents a significant 78.95% decrease compared to the previous year.

Quarterly sales reached $294.30 million, exceeding estimates by 4.56%, but were down 3.55% compared to the same period last year.

The company's strong performance in the third quarter was driven by its growth strategy, including the successful launch of HERO12 Black and expanding its retail presence.

See Also: What In The World Is Going On With Dogecoin?

GoPro exceeded revenue and unit sales expectations and ended the quarter with 2.5 million subscribers. Despite achieving $294 million in revenue, a 5% increase from guidance, it was still down 4% year-over-year.

Revenue from the retail channel amounted to $231 million, while GoPro.com revenue declined to $63 million. They also noted a notable 20% year-over-year growth in subscribers.

According to data from Benzinga Pro, GPRO has a 52-week high of $6.57 and a 52-week low of $2.41.