Instant Alert: GoPro just halted its stock and reported third-quarter earnings that missed expectations by a mile

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GoPro just halted its stock and reported third-quarter earnings that missed expectations by a mile

by Akin Oyedele on Nov 3, 2016, 4:22 PM

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GoPro on Thursday halted trading of its shares before reporting quarterly earnings results that were worse than analysts had expected.

The maker of point-of-view cameras reported an adjusted loss per share of 60 cents, missing the forecast for 30 cents according to Bloomberg.

Its sales totaled $241 million, short of the estimate for $313 million. 

The company's guidance for fourth-quarter revenue was also weaker than expected. 

The stock fell 7% in trading before the market close, and had lost 33% of its value this year.

More to come ...


 
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