GoPro Inc., the action camera manufacture is expanding its portfolio thus for the same reason, the company has acquired a sci-fi video and virtual reality software that will give users a real time experience allowing users to feel there.
The company had initially a very saturated market but now GoPro has added a stable first quarter revenue in FY15 where a more than 50% increase has been observed due to rampant growth in international sales. The company’s global sales have increased substantially in Q1 which compound for half of the company’s sales overall.
Things that were a highlight of GPRO earnings were a 54 per cent gain in revenues on a year over year basis which compounds to $363.1 million. The analysts expected that the sales will compound revenues worth $341 million but the forecasts were beaten with a good margin by the company. The company has the honor of beating Wall Street expectations four times in a row which is massive win situation for the company.
It has been reported that GoPro stocks have increased by 52 per cent to $16.8 million or on average 13 cents for each share. However, this itself is a far cry considering the $122 million in terms of profits which were posted in the previous quarter. It needs to be considered here that this bombastic report was due to the holiday season where sales had been beyond exceptional for the company.
After the earnings were revealed the shares of the company increased by seven per cent in the afterhours. Moreover, a gain of 4 per cent was also observed during the day.
“GoPro’s capture devices and Kolor’s software will combine to deliver exciting and highly accessible solutions for capturing, creating and sharing spherical content,” reported the chief executive officer of GoPro, Nick Woodman in a statement. He further added, “Investments in talent, technology, software, and innovative new products” regarding the growth of the company.
Hence in a nutshell, earlier many skeptics complained that GoPro was only limited to a limited earlier but the company now has worked really hard to make their footprints global. This actually proved to be of great benefit for the company since now their sales overseas have been tremendous and they have been ascertaining a substantial chunk of their revenues through these sales only which is a massive achievement for them. The company needs to evaluate the things that have proved to be fruitful for them and continue to beat Wall Street expectations in the quarters to come.
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