GoPro Beats Q2 Expectations

GoPro Inc GPRO reported stronger-than-expected results for its second quarter on Tuesday. The San Mateo, California-based company posted quarterly net income of $35 million, or $0.24 per share, versus a year-ago loss of $19.8 million, or $0.24 per share. Its adjusted earnings came in at $0.35 per share in the latest quarter. Its revenue rose to 419.9 million from $244.6 million. However, analysts were expecting a profit of $0.26 per share on revenue of $395.17 million. The average estimate among 84 Estimize users was for earnings of $0.29 per share and revenue of $401.80 million. "I couldn't be more proud of our aggressive pace of innovation. With the introduction of HERO4 Session and HERO+ LCD, we've launched five new cameras in the past 10 months, exciting both new and existing customers and contributing to strong second quarter results," said GoPro Founder and CEO, Nicholas Woodman. "Our core business is enjoying terrific momentum as we charge forward into attractive adjacent markets." GoPro shares slipped 0.87 percent to $61.50 in the after-hours trading session.