Revenue during the crucial holiday quarter slid 5.7% versus a year ago to $540.6 million, which was well shy of the $574.5 million that analysts were expecting. Additionally, GoPro says it sees first quarter revenue of $190 million to $210 million versus the Wall Street estimate of $267.6 million.
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GoPro is tanking after big misses on revenue and guidance (GPRO)
Shares of GoPro are down 10% in after-hours trading after the company missed on revenue and issued disappointing guidance.
GoPro Inc's founder and CEO Woodman celebrates GoPro Inc's IPO at the Nasdaq Market Site in New York City
There was a bit of good news as adjusted earnings per share came in at $0.29, well ahead of the $0.22 was anticipated.
Nicholas WoodmanGoPro's
GoPro's struggles as of late have been well documented. On November 30, the company announced it was laying off 15% of its workforce and shutting down its entertainment division.
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Shares of GoPro have been in a tailspin since reaching a peak of more than $93 per share in October 2014, less than four months after the stock IPOed. They have fallen about 89% from their peak.
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