GPRO missed on the earnings:
The wearable camera maker reported a fourth-quarter loss of 8 cents per share, ex-items, on $437 million in revenue.
Analysts on average expected GoPro to break even in the fourth quarter on $496 million in revenue, according to a consensus estimate from Thomson Reuters.
Shares of adventure camera maker GoPro (GPRO) have been halted in late trading this afternoon ahead of its Q4 report.
Analysts are modeling $435 million and break-even on the profit line.
Update: Revenue in the three months ended in December fell 31%, year over year, $436.6 million, yielding a net loss of 8 cents a share.
CEO Nicholas Woodman remarked that “growth slowed in the second half of the year and we recognize the need to develop software solutions that make it easier for our customers to offload, access and edit their GoPro content.”
The company said it took a $57 million as an impairment because “excess purchase order commitments,” which is more than the $30 to $35 million it had been expecting.
GoPro sees revenue of $160 million to $180 million for the current quarter, and a gross profit margin of 35% to 37%. That is substantially below the $291 million the Street has been modeling.
For the full year, it sees revenue of $1.35 billion to $1.5 billion, well below consensus for $1.609 billion.
The Nasdaq currently is not specifying the time of resumption of trading in GoPro shares.
Update: The shares are now set to resuming trading at 5 pm.
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