GoPro Reports Revenue Shortfall In Q4 2016 | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-07.15.24

Airborne-NextGen-07.16.24

Airborne-Unlimited-07.17.24

Airborne-FlightTraining-07.18.24

Airborne-Unlimited-07.19.24

Tue, Feb 07, 2017

GoPro Reports Revenue Shortfall In Q4 2016

Cites Karma Drone Issues As Among The Reasons For Underperformance

GoPro reported a revenues below its projected $574.5 million analysts expected in the 4th quarter of 2016, and is unlikely to start 2017 much better.

SGBOnline reports that the company's revenue during the holiday quarter was up nearly 24 percent but still short of projections. First quarter revenue is expected to be between $190 and $210 million, but still fall short of the $267.6 million forecast by Wall Street.

The company reported an annual loss of $419 million.

Among the factors contributing to the loss cited by analysts for the report were a lack of inventory for the Hero5 Black camera, which caused several retailers to put their marketing dollars into products they were sure they would have to sell. The recall of the Karma drone was also an issue.

GoPro founder and CEO Nicholas Woodman acknowledged said in a conference call with analysts that there were “missteps that led to a shortfall of our revenue guidance. We believe we missed an important opportunity to capture perishable demand during the holiday."

Still, Woodman is optimistic about 2017, saying the company is well positioned with innovative products that will "deliver the best storytelling solutions for the GoPro community."

(Image from file)

FMI: www.gopro.com

Advertisement

More News

Kickstarting Your Aviation Journey at Oshkosh 2024

A Guide to Making the Most out of the World’s Biggest Airshow EAA’s Oshkosh Airventure generates fun for all aviation lovers. You get a chance to see, touch, and maybe >[...]

Aero-News: Quote of the Day (07.22.24)

"We're excited to offer our advanced avionics to a broader range of aircraft while maintaining our commitment to value. Twin-engine aircraft usually pay a significant premium to eq>[...]

Electric Power Systems Seeks TSO for Rechargeable Battery System

Modular, Scalable Lithium Battery System for Select Aircraft Electric Power Systems, Inc., announced that it has submitted its application to the FAA for a Technical Standard Order>[...]

Advanced Micro Turbines Find Footing in USA

350 Pound-feet of Thrust Now Available in a Small, Lightweight Package UAV Propulsion Tech signed an agreement with AMT-Advanced Micro Turbines to begin marketing their tiny little>[...]

Klyde Morris (07.22.23)

Klyde Provokes The Ultimate Oshkosh Invite... Sorta... FMI: www.klydemorris.com>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC