GoPro Announces Kolor VR Software Maker Acquisition Alongside Earnings

Advertisement
By Reuters | Updated: 29 April 2015 09:45 IST
Wearable camera maker GoPro forecast current-quarter profit and revenue above analysts' expectations, citing strong demand for its flagship Hero4 action cameras.

Shares of the company, which also reported better-than-expected first-quarter profit and revenue, rose 8.6 percent in extended trading on Tuesday.

GoPro, whose cameras are used by surfers, skydivers and other action junkies, said it was focussing on Japan, Korea and China markets.

Advertisement

The company said it planned to expand its offerings in China by the end of the second quarter. GoPro gets about half of its total revenue from markets outside the United States.

"It appears that entry in China which happened in January is off to a good start and it feels like they got fairly high expectations for that to continue in (second quarter)," Dougherty & Co analyst Charles Anderson told Reuters.

GoPro, which claims to make the five top-selling camera or camcorders in the United States, has said expansion outside the U.S. market is key to its efforts to boost revenue growth.

GoPro's success has prompted companies such as Garmin Ltd, Panasonic Corp and Polaroid to launch their own action cameras. The market has also attracted the attention of Apple Inc.

Advertisement

GoPro forecast earnings of 24-26 cents per share and revenue of $380 million-$400 million for the second quarter.

Analysts on average were expecting a profit of 16 cents per share and revenue of $333.7 million, according to Thomson Reuters I/B/E/S.

Advertisement

GoPro's net income attributable to shareholders nearly doubled to $16.8 million, or 11 cents per share, in the first quarter.

Excluding items, the company earned 24 cents per share.

Advertisement

Revenue rose 54 percent to $363.1 million.

Analysts on average had expected earnings of 18 cents per share and revenue of $341 million.

GoPro said sales from markets outside the United States, including Europe and Asia Pacific, jumped 66 percent.

Separately, GoPro said it would buy Kolor, a virtual reality software maker.

"It's very clear based on this acquisition they (GoPro) are probably going to develop a camera that can record video 360 degree, the spherical video," Anderson said.

The San Mateo, California-based company's shares were trading at $51.10 after the bell.

© Thomson Reuters 2015

 

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: Cameras, GoPro
Advertisement

Related Stories

Popular Mobile Brands
  1. Apple Brings Back Card Payments for App Store, iCloud Transactions in India
  2. Vivo Y500 4G Makes Global Debut With an 8,100mAh Battery: See Price
  3. Top 10 Deals on Bluetooth and Party Speakers During Amazon's Prime Day Sale
  4. Xiaomi 18 Pro Max Prototype Leaked With Dual 200MP Cameras, 100W Charging
  5. Best Amazon Prime Day Laptop Deals for Students
  6. Vivo G5i, Vivo G5z Launched With 7,200mAh Battery, Snapdragon 4 Gen 2 SoC
  1. Nothing Ear 3a Spotted in Leaked Renders That Leave Little to the Imagination Ahead of Their Debut
  2. Vivo G5i, Vivo G5z Launched With 7,200mAh Battery, Snapdragon 4 Gen 2 SoC: Price, Features
  3. Redmi Note 17 and Poco M8 Plus Appear on BIS Certification Database, Might Launch in India Soon: Report
  4. Stablecoin Transactions Hit Record $1.79 Trillion in June, Analytics Show
  5. South Africa Proposes Crypto Tax Guidance Under Existing Framework
  6. Insta360 X6 Could Launch Soon With Larger Sensor, US FCC Listing Suggests
  7. Vivo V80 Series Price Range in India, Launch Timeline Tipped Along With Key Specifications, Features
  8. Huawei Pura 90 Series Global Launch Set for July 14; Pura 90s Pro Max Teased
  9. Apple Brings Back Card Payments for App Store and iCloud Transactions in India After Five Years
  10. Samsung Galaxy Z Fold 8 Series Tipped to Launch With a New Hinge to Minimise Display Crease
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2026. All rights reserved.