GoPro beats as action cameras click with consumers

July 27 01:24 2015

Action camera maker GoPro reported better-than-expected quarterly profit and revenue, helped by strong sales in markets outside North America. GoPro, whose helmet- and body-mounted cameras are popular with surfers, skydivers and other adventure sports enthusiasts, has benefited from a focus on markets such as China, Japan and South Korea.Gopro-corporate-display-

“China is now a top ten revenue-generating country for GoPro,” the company said in a statement on Tuesday. GoPro gets more than half of its revenue from markets outside the United States. The company has also been beefing up its pipeline of cameras. In June, GoPro and Google introduced a virtual reality system using 16 cameras and Google software that would help create a 360 degree view.

GoPro reported net income of $35 million, or 24 cents per share, for the second quarter ended June 30 compared with a loss of $19.8 million or 24 cents per share, a year earlier. Excluding items, the company earned 35 cents per share. Revenue rose 71.7 percent to $419.9 million. Analysts on average had expected a profit of 26 cents per share and revenue of $395.2 million, according to Thomson Reuters. GoPro’s shares fell as much as 8 percent in after-hours trading on Tuesday, before turning positive.