GoPro (NASDAQ: GPRO) reported Q1 EPS of $0.03, $0.03 better than the analyst estimate of $0.00. Revenue for the quarter came in at $204 million versus the consensus estimate of $186.69 million.

"This is the new GoPro. We've evolved from a hardware unit-sales-centric business to a successful direct-to-consumer subscription-centric business with a significant opportunity to grow margin and profitability with continued subscriber growth," said Nicholas Woodman, GoPro's founder and CEO. "The value-creation implications of this shift are meaningful."

"GoPro fired on all cylinders during the first quarter of 2021. Strong revenue growth globally, a continued shift to higher-end cameras, and subscription growth drove record ASP's that resulted in expanded gross margins and operating results in the quarter," said Brian McGee, GoPro's CFO and COO.

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