GoPro
beat Wall Street's forecasts on Thursday as revenue more than doubled
from a year earlier, sending shares as much as 14 percent higher in
after-hours trading.
However, the stock erased those gains, falling some 15 percent, after it projected unexpectedly weak first-quarter profit and announced the surprise departure of one of its executives.
During its earnings call, the company said it sees first-quarter earnings coming in between 15 and 17 cents per share. Wall Street had expected the camera maker to
post earnings 17 cents per share, according to a consensus estimate from Thomson Reuters.
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Separately, GoPro Chief Operating Officer Nina Richardson has resigned, the company disclosed in a regulatory filing. Her exit is effective Feb. 27.
However, the stock erased those gains, falling some 15 percent, after it projected unexpectedly weak first-quarter profit and announced the surprise departure of one of its executives.
During its earnings call, the company said it sees first-quarter earnings coming in between 15 and 17 cents per share. Wall Street had expected the camera maker to
post earnings 17 cents per share, according to a consensus estimate from Thomson Reuters.
Read MoreOuch! Pandora skids more than 20% on revenue miss
Separately, GoPro Chief Operating Officer Nina Richardson has resigned, the company disclosed in a regulatory filing. Her exit is effective Feb. 27.
The wearable camera maker reported fourth-quarter earnings
of 99 cents per share, up from 33 cents a share a year earlier. Revenue
soared 75 percent to $633.90 million, from $361.50 million.
The company said it shipped 2.4 million capture devices during the quarter and 5.2 million for the full year.
The stock was last down nearly 15 percent in extended trading.
GoPro's cash, cash equivalents and marketable securities surged to $422.3 million, up 316 percent from Dec. 31, 2013.
"We're feeling good. GoPro was one of the best-selling products this holiday, selling-in an average of 1,000 units per hour for the entire quarter," GoPro CEO Nicholas Woodman said. "With this many new recruits to the GoPro movement, we're sure to see some incredible content in 2015."
Read MoreIt was a GoPro Christmas: GoPro CEO
Analysts had expected GoPro to report earnings of 70 cents per share on revenue of $580 million, according to a consensus estimate from Thomson Reuters.
The company said it shipped 2.4 million capture devices during the quarter and 5.2 million for the full year.
The stock was last down nearly 15 percent in extended trading.
GoPro's cash, cash equivalents and marketable securities surged to $422.3 million, up 316 percent from Dec. 31, 2013.
"We're feeling good. GoPro was one of the best-selling products this holiday, selling-in an average of 1,000 units per hour for the entire quarter," GoPro CEO Nicholas Woodman said. "With this many new recruits to the GoPro movement, we're sure to see some incredible content in 2015."
Read MoreIt was a GoPro Christmas: GoPro CEO
Analysts had expected GoPro to report earnings of 70 cents per share on revenue of $580 million, according to a consensus estimate from Thomson Reuters.
Last month, Woodman touted GoPro's prospects for 2015. The company enjoyed strong holiday sales and international growth numbers, he told CNBC.
"For us and our customers and our retailers, it was a GoPro Christmas. It was the best new product introduction that we've ever had," Woodman told CNBC.
GoPro has taken steps to become a more diverse media company beyond its camera offerings. It announced on Thursday that it will launch a channel on the Roku streaming platform.
In a partnership with the National Hockey League announced last month, players have started wearing GoPro cameras during games to showcase new angles.
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