GoPro reported its Q1FY15 earnings on Tuesday and posted 24 cents in earnings per share while its revenue boosted due to increasing in overseas sales.
GoPro announced its first quarter fiscal year 2015 earnings report on Tuesday April 28. The company improved its revenue by over 50% due to massive international sales that account for almost 50% of the total sales by the company.
The Camera manufacturer reported $363.1 million in revenue up by 54% YoY. GoPro surpassed analyst’s estimation of $341 million of total sales, as per FactSet. The company reported earnings of $0.24 per share more than Wall Street forecast of $0.18 per share, as per the analysts polled by Reuters.
This is the fourth time in a row that the company was able to beat Wall Street expectations since its initial public offering in June last year.
Company’s profit increased by 52% and reached $16.8 million equals to $0.13 per share. That is still less from $122 million profit company reported in the last quarter on sales of $634 million. But that was due to the holiday season that sets record revenue and profits for the company.
GoPro said that over 50% of its total revenue came from overseas, with almost 66% of sales from Europe and Asia markets in the quarter.
The international growth is nothing new for the company while the sales in Asia and Europe market accounted for 70% in the previous quarter of FY14. Last year, GoPro worked on establishing its global infrastructure by introducing a facility of product assembly in Brazil and also formed European marketing and sales headquarters in Munich. GoPro also forged associations with Chinese e-commerce retailers like JD.com and Tmall in 2014.
In another announcement different from earnings report, the company said, it has decided to acquire Kolor, a company that focuses in 360-degree video and virtual reality. The financial numbers of the deal were not revealed.
Chief Executive Officer of GoPro, Nick Woodman said, “GoPro’s capture devices and Kolor’s software will combine to deliver exciting and highly accessible solutions for capturing, creating and sharing spherical content,” during earnings release, Mr. Woodman had already advertised GoPro investment “investments in talent, technology, software, and innovative new products” in a statement related to sustaining company’s growth.
During after hour trading session, GoPro’s stock price jumped around 7% after going up by 4% during the regular trading hour.
The Camera manufacturer reported $363.1 million in revenue up by 54% YoY. GoPro surpassed analyst’s estimation of $341 million of total sales, as per FactSet. The company reported earnings of $0.24 per share more than Wall Street forecast of $0.18 per share, as per the analysts polled by Reuters.
This is the fourth time in a row that the company was able to beat Wall Street expectations since its initial public offering in June last year.
Company’s profit increased by 52% and reached $16.8 million equals to $0.13 per share. That is still less from $122 million profit company reported in the last quarter on sales of $634 million. But that was due to the holiday season that sets record revenue and profits for the company.
GoPro said that over 50% of its total revenue came from overseas, with almost 66% of sales from Europe and Asia markets in the quarter.
The international growth is nothing new for the company while the sales in Asia and Europe market accounted for 70% in the previous quarter of FY14. Last year, GoPro worked on establishing its global infrastructure by introducing a facility of product assembly in Brazil and also formed European marketing and sales headquarters in Munich. GoPro also forged associations with Chinese e-commerce retailers like JD.com and Tmall in 2014.
In another announcement different from earnings report, the company said, it has decided to acquire Kolor, a company that focuses in 360-degree video and virtual reality. The financial numbers of the deal were not revealed.
Chief Executive Officer of GoPro, Nick Woodman said, “GoPro’s capture devices and Kolor’s software will combine to deliver exciting and highly accessible solutions for capturing, creating and sharing spherical content,” during earnings release, Mr. Woodman had already advertised GoPro investment “investments in talent, technology, software, and innovative new products” in a statement related to sustaining company’s growth.
During after hour trading session, GoPro’s stock price jumped around 7% after going up by 4% during the regular trading hour.
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