Action camera maker GoPro to review options, including possible sale

May 11 (Reuters) - Action ‌camera maker ​GoPro ​said on Monday that it intends to review a range of strategic ‌options that could include a sale of ⁠the company or merger, sending its shares up more ‌than 27% in after-hours ‌trading.

This comes nearly a month after the company said it had engaged consulting firm ​Oliver Wyman to pursue new market opportunities for its technology within the defense and ⁠aerospace markets.

The California-based company said since then it received several ​unsolicited strategic inquiries, and its board has authorized it to engage a financial ​advisor to support a review.

Separately ‌on Monday, GoPro reported a wider first-quarter adjusted loss from a year ⁠ago and a decline in total revenue as hardware, subscription and service revenue fell in the ⁠quarter.

For the quarter ended March 31, it posted a ​loss of 35 cents per share, compared to a loss of 12 cents per share a year ago.

GoPro ‌had a market capitalization of $224 million as of last close, according to ‌data compiled by LSEG.

In February, GoPro appointed ⁠insider Brian Tratt ‌as its chief ​financial officer replacing Brian McGee.

(Reporting by Anshuman Tripathy in Bengaluru; Editing by Shailesh ‌Kuber)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• MPS prepares twin bids for Banco BPM and Banca Generali in Intesa defense - FT
• Powerus wins $22.3M contract for counter-drone work in Middle East
• Roots Corporation to go private in C$4.10-per-share deal with Marquee Brands