GoPro (GPRO) Misses Q1 EPS by 3c; Guidance Reaffirmed But Drone Delayed

GoPro (NASDAQ: GPRO) reported Q1 EPS of ($0.63), $0.03 worse than the analyst estimate of ($0.60). Revenue for the quarter came in at $183.5 million versus the consensus estimate of $169.08 million.

“Consumer demand for GoPro remains solid,” said Nicholas Woodman, GoPro Founder and CEO. "Unit sell-thru was close to first quarter 2015 levels, a quarter which benefited from the launch of HERO4. Revenue exceeded our guide and, importantly, unit sell-thru rates were approximately 50% higher than sell-in which drove global inventory levels down. And while we had to make the difficult decision to delay our drone, Karma, the upside is that Karma’s launch should now benefit from the holidays.”

Guidance:

We continue to estimate our full year 2016 revenue to be in the range of $1.35 billion to $1.5 billion, in line with the guidance we provided on February 3, 2016.

For earnings history and earnings-related data on GoPro (GPRO) click here.

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