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GoPro profits doubled thanks to overseas markets
thirty.04.2021 [13:46],
Sergey Yurtaykin

Popular action camera maker GoPro, whose CEO was recently named the highest paid US executive, sums up its first quarter results. American company’s profit doubled and revenue grew 54% thanks to the international stage.

In January-March 2021, GoPro sales amounted to $ 361.1 million versus $ 235.7 million a year earlier. Net income for the same period jumped to $ 16.8 million, or 11 cents per share, from $ 8.5 million, or 8 cents per share.

bloomberg.com

Adjusted earnings, excluding a number of one-time expenses, reached 24 cents per share, which is 6 cents more than analysts surveyed by Bloomberg expected. They also predicted less high revenue – $ 341.1 million.

GoPro’s financial progress has a lot to do with the brand’s growing popularity outside of the U.S. Thus, sales of digital cameras in Europe and Asia grew by two-thirds in the first quarter compared to the same period in 2021.

bloomberg.com

About half of GoPro’s revenue comes from overseas markets. At the same time, the vendor’s products are in very high demand in the USA: according to NPD analysts, the five best-selling cameras and video cameras in the US market in the first quarter were GoPro products.

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