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Feb. 3, 2016, 5:05 p.m. EST

GoPro shares fall 16% to new low, sales and forecast even worse than expected

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By Jeremy C. Owens

GoPro Inc. /zigman2/quotes/209165587/composite GPRO 0.00% revealed losses in the holiday quarter and named a new chief financial officer, while providing a forecast well short of Wall Street expectations. The action-camera company revealed a loss of $34.4 million, or 25 cents a share, on sales of $436.6 million; after adjustments, GoPro said it lost 8 cents a share. Analysts polled by FactSet on average predicted a break-even quarter for adjusted profit on sales of $435 million, after GoPro warned of a disappointing holiday quarter in January. Analysts had expected more than $500 million in sales before GoPro's warning, which also included news of layoffs. GoPro said it expects sales of $160 million to $180 million in the current quarter, far below average analyst expectations of $291 million, according to FactSet, and the company's full-year guidance of $1.35 billion to $1.5 billion was below analysts' expectations of $1.6 billion. GoPro also said that Brian McGee, previously of Qualcomm Inc. /zigman2/quotes/206679220/composite QCOM +1.66% , would take over as CFO on March 11 for the retiring Jack Lazar. After being halted ahead of the news, GoPro shares fell 16% in after-hours trading to $9, which would be an all-time low for the stock.

/zigman2/quotes/209165587/composite
US : U.S.: Nasdaq
$ 5.97
0.00 0.00%
Volume: 1.72M
June 27, 2022 4:00p
P/E Ratio
2.52
Dividend Yield
N/A
Market Cap
$954.68 million
Rev. per Employee
$1.52M
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/zigman2/quotes/206679220/composite
US : U.S.: Nasdaq
$ 127.18
+2.08 +1.66%
Volume: 9.95M
June 27, 2022 4:00p
P/E Ratio
13.02
Dividend Yield
2.36%
Market Cap
$140.11 billion
Rev. per Employee
$745,911
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