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GoPro posted\u00a0earnings<\/a> in line with analyst expectations and better-than-expected sales\u00a0today, reporting a non-GAAP loss of 44 cents per share on revenues of $218.6 million. That is an improvement from\u00a0a loss of 63 cents per share and revenues of $183.5 million in the year-ago quarter.<\/p>\n The first-quarter earnings report marks some of\u00a0the first positive news the company has had in several quarters. GoPro attributed\u00a0its revenue increase to the return of the company\u2019s fold-up Karma drone<\/a>, which was recalled in the fall after it became clear that\u00a0a loose battery could result in power loss and drones falling from the sky. Sales of the drone, which costs $799 by itself or $1,099 when bundled with a GoPro Hero 5,\u00a0resumed in February.<\/p>\n Nor has GoPro stopped developing new products: It\u00a0announced plans<\/a> for the\u00a0release of\u00a0a spherical video camera called the Fusion,\u00a0but that won\u2019t be available for sale until the fall.<\/p>\n In the meantime, though, GoPro is hoping to get its earnings back on track. The company forecast revenues of $270\u00a0million and adjusted EBITDA loss of $15 million\u00a0for\u00a0the second quarter.<\/p>\n Prior to today\u2019s earnings release, GoPro had a rocky\u00a0start to the year. Its fourth-quarter and full-year numbers fell well below analyst expectations<\/a>, causing its stock to fall 10 percent after their release.<\/p>\n It also announced layoffs<\/a> last month that would result in the\u00a0loss of\u00a0270 jobs, on top of two previous rounds of cuts in January and November. Thanks in part to those cuts, the company\u00a0was able to reduce its operating expenses by\u00a0$50 million.<\/p>\n","protected":false},"excerpt":{"rendered":"![\"\"](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2016\/09\/p9190809.jpg?w=680\")
GoPro posted earnings in line with analyst expectations today, reporting a non-GAAP loss of 44 cents per share on revenues of $218.6 million. That is an improvement from a loss of 63 cents per share and revenues of $183.5 million in the year-ago quarter. Read More<\/a><\/p>\n\n<\/img><\/a>
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