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GoPro Misses Revenue Forecast for Holiday Quarter

GoPro Misses Revenue Forecast for Holiday Quarter

The company in January pre-announced its fourth quarter results and estimated revenue of $340 million. It also announced plans to exit its Karma drone business.

GoPro Inc missed its forecast for holiday-quarter revenue this week as it struggles to drive demand for its flagship action cameras. Revenue fell 38.1 percent to $334.8 million in the fourth quarter ended Dec. 31. Net loss narrowed to $55.8 million or 41 cents per share from $115.7 million or 82 cents per share, a year earlier. The company in January pre-announced its fourth quarter results and estimated revenue of $340 million. It also announced plans to exit its Karma drone business.

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