GoPro (GPRO) Q4 Earnings Miss Estimates, Revenues Up Y/Y
Zacks Investment Research | Feb 07, 2020 07:45AM ET
GoPro, Inc. (NASDAQ:GPRO) reported tepid fourth-quarter 2019 results, wherein both the top and bottom lines missed the Zacks Consensus Estimate. The company’s share price declined 9.2% post earnings release in yesterday’s trading session to close at $3.96.
Net Income
On a GAAP basis, net income for the December quarter was $95.8 million or 65 cents per share compared with $31.7 million or 22 cents per share in the year-ago quarter. The three-fold increase in GAAP earnings was primarily attributable to higher revenues and income tax benefit in the reported quarter. For full-year 2019, net loss was $14.7 million or loss of 10 cents per share compared with net loss of $109 million or loss of 78 cents per share in 2018.
Quarterly non-GAAP net income came in at $102.5 million or 70 cents per share compared with $42.4 million or 30 cents per share in the year-ago quarter. The bottom line missed the Zacks Consensus Estimate by 9 cents.
Non-GAAP net earnings in 2019 were $35.3 million or 24 cents per share against net loss of $31.9 million or loss of 23 cents per share a year ago. The drastic improvement was mainly driven by top-line growth.
GoPro, Inc. Price, Consensus and EPS Surprise
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