GPRO - Why GoPro Stock Is Plummeting Today
2024-02-08 13:43:03 ET
GoPro (NASDAQ: GPRO) stock is sinking in Thursday's trading. The company's share price was down 11% as of 1:15 p.m. ET, according to data from S&P Global Market Intelligence .
GoPro published fourth-quarter results after the market closed yesterday, reporting disappointing sales and earnings performance. The action camera specialist posted non-GAAP (adjusted) earnings per share of $0.02 on sales of $295.42 million. Meanwhile, the average analyst estimate had called for the business to post earnings of $0.03 per share on revenue of $326.13 million.
GoPro's subscription and service segment revenue grew 13% year over year to reach approximately $25 million in Q4. On the other hand, overall sales were down 8% compared to the prior-year period.
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Why GoPro Stock Is Plummeting Today