GoPro Shares Fall After Hours Despite Q2 Beat

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GoPro Shares Fall After Hours Despite Q2 Beat

by TheStreet 0:54 mins

GoPro Shares Fall After Hours Despite Q2 Beat

by TheStreet 0:54 mins

GoPro filed its first earnings report since going public in late June, beating Wall Street estimates on both the top and the bottom line. Earnings of 8 cents a share were 2 cents a share higher than expectations. Revenue of $244.6 million also beat estimates and was 38% higher compared to the second quarter of 2013. Sales growth for the quarter was driven by increased demand for both the Hero 3+ Black Edition and accessory products. But, many investors are worried about how long GoPro can maintain its leadership position in the market. GoPro CEO Nick Woodman was optimistic about the impact the huge growth in user generated content on YouTube would have on future sales. GoPro is up 53% since its IPO in late June. TheStreet's Whalen MacHale reports from New York.

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