GoPro Shares Up 10% On Q1 Results

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(RTTNews) - Shares of GoPro Inc. (GPRO) surged 10% in extended session on Thursday after the action-sports camera maker reported a loss that was smaller than Wall Street analysts' estimated and revenues topping expectations.

San Mateo, California-based GoPro reported a first-quarter loss of $24.37 million or $0.17 per share, compared with last year's loss of $76.3 million or $0.55 per share.

GoPro reported adjusted loss of $10.2 million or $0.07 per share, compared with last year's loss of $47.4 million or $0.34 per share. On average, 6 analysts polled by Thomson Reuters expected loss of $0.09 per share for the quarter. Analysts' estimates typically exclude special items.

GoPro's revenues for the first quarter rose 20% to $242.7 million from $202.3 million a year ago. Analysts had a consensus revenue estimate of $234.42 million for the quarter.

Excluding aerial business, GoPro's revenue would have increased 27% year-over-year.

Gross margin for the quarter was 33.1%, up from 22.2% a year ago.

GPRO closed Thursday's trading at $6.67, up $0.33 or 5.21% on the Nasdaq. The stock further gained $0.67 or 10.04% in the after-hours trade.