GPRO - Why GoPro Shares Spiked as Much as 10% Friday
Action camera maker GoPro (NASDAQ: GPRO) released its fourth-quarter and full-year results Thursday night, and the market received the report well. In trading Friday, the company's shares were up by 10% at their high point, and remained up by about 5% as of 3:40 p.m. ET.
For the fourth quarter, GoPro's revenue grew by 9% year over year, capping off a full year during which it achieved 30% revenue growth over 2020. Much of that growth is being driven by subscription revenue and by online sales at GoPro.com -- between them, those two sources now make up more than one-third of total sales. For the year, online and subscription revenue jumped by 39% as GoPro's subscriber count more than doubled to about 1.6 million.
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Why GoPro Shares Spiked as Much as 10% Friday