GoPro Crushed After Missing Q4 Sales Estimates

GoPro Inc GPRO shares were crushed nearly 12 percent after hours following the company’s fourth quarter earnings release.

Q4 was the second-highest revenue producing quarter in company history.

• GoPro Reports Q4 EPS $0.29, beats by $0.07
• Revenues $540.621 million, misses by $33.8 million
• GoPro sees Q1 revenue of ~$200 million, against estimates of $264.46 million
• Fiscal year 17 adjusted Operating Expenses are expected to be below $600 million
• Full release here

"In 2016, big investments in hardware, cloud, and mobile yielded a solid foundational experience for our customers," said Founder ande CEO Nicholas Woodman. "In 2017, we will build on this foundation for our customers while improving efficiency and managing cost to achieve profitability."

The stock traded recently at $9.70, down 11.6 percent.