GoPro (GPRO) Reports Q2 Loss, Tops Revenue Estimates

Company Performance - GoPro reported a quarterly loss of $0.24 per share, slightly better than the Zacks Consensus Estimate of a loss of $0.25, and compared to a loss of $0.07 per share a year ago, indicating a significant decline [1] - The company achieved revenues of $186.22 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 9.16%, but down from $241.02 million in the same quarter last year [1] - Over the last four quarters, GoPro has surpassed consensus EPS estimates three times and has also topped consensus revenue estimates three times [1] Stock Outlook - GoPro shares have declined approximately 62% since the beginning of the year, contrasting with the S&P 500's gain of 8.7% [2] - The current consensus EPS estimate for the upcoming quarter is $0.07 on revenues of $284.02 million, while for the current fiscal year, the estimate is -$0.28 on revenues of $915.45 million [4] Industry Context - The Audio Video Production industry, to which GoPro belongs, is currently ranked in the bottom 34% of over 250 Zacks industries, indicating a challenging environment [5] - Another company in the same industry, Dolby Laboratories, is expected to report quarterly earnings of $0.59 per share, reflecting a year-over-year increase of 7.3%, with revenues anticipated to be $286.26 million, down 4.1% from the previous year [5][6]