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GoPro reports 86% jump in revenue in Q2

Published August 5, 2021

SAN MATEO, Calif. (BRAIN) — GoPro Inc. second-quarter revenue increased 86% year-over-year led by a 48% jump in online revenue.

Company revenue was reported at $250 million, compared with $134 million in Q2 2020, for the period ending June 30. second-quarter revenue jumped to $88 million, 35% of the company’s total revenue.

Founder and CEO Nicholas Woodman said because of GoPro’s financial health, it will increase revenue, margin, and earnings outlooks for the second half.

Net income was $17 million ($0.10 earnings per share), compared with $51 million ($0.34) at the same time last year. This was the fourth consecutive quarter of non-GAAP profitability.

GoPro reported subscriptions went up 211% year-over-year to 1.2 million.

"In Q2, strong execution further revealed the benefits of the strategic shifts we've made in our business to a more direct-to-consumer, subscription-centric model," said Brian McGee, CFO and COO. "We believe the changes to our business will continue to result in a more predictable and profitable GoPro."

GoPro's corporate headquarters are in San Mateo. Its stock is traded on NASDAQ under the GPRO symbol.

Topics associated with this article: Earnings/Financial Reports

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