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Business

GoPro takes a tumble - and it isn't pretty

November 6th, 2015 by ,    photos by

Why investors aren't exactly being a good sport about it

 
 
 

What's in a good marketing strategy? About $34 million, according to CNBC. GoPro missed the revenue mark by about that much when it announced third-quarter earnings that failed to meet analyst expectations in more areas than one.

Earnings per share came in at 25 cents on $400 million in revenue, falling short of the consensus estimate of 29 cents on $434 million in revenue analysts from Thomson Reuters had reached.

Blame it on bad marketing, GoPro chief executive Nick Woodman said in a media interview after the call (ugh - don't you hate when that happens?).

Out of focus

According to Woodman, it was because of mis-pricing and mis-marketing that the company's flagship camera Hero4 Session missed out on capturing the American market share investors anticipated, where revenue dropped 7 percent to $190.8 million. This figure paled in comparison to the $209.8 million in revenue the company snapped up internationally - which, in contrast, tripled over the quarter to help boost revenue by 43 percent year-over-year.  Still, it wasn't enough to avoid the 13 percent single-day drop in share price that followed.

The big picture: Investors may be feeling GoPro still has a long way before it - and its stock - can, ahem, go pro. 

Now, excuse them while they lick their wounds.

Want to read more?

CNBC: GoPro CEO: We didn't market the Hero4 adequately

 

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