GoPro’s (GPRO) This autumn Earnings and Revenues Surpass Estimates
GoPro, Inc GPRO reported non-GAAP earnings of 12 cents per share for fourth-quarter 2022, beating the Zacks Consensus Estimate of 9 cents. The corporate had reported earnings of 41 cents within the year-ago quarter.
GoPro generated revenues of $321 million, down 18% from the year-ago quarter’s ranges. Nonetheless, revenues beat the consensus mark by 0.8%.
GoPro, Inc. Value, Consensus and EPS Shock
GoPro, Inc. price-consensus-eps-surprise-chart | GoPro, Inc. Quote
Quarter in particulars
GoPro shipped 850 million digital camera items throughout the reported quarter, down 17.7% yr over yr.
GoPro recorded 2.25 million subscribers, marking 43% year-over-year progress on the shut of the reported quarter. Quik subscribers soared 26% to 279,000 from the prior-year quarter.
Area-wise, revenues from the Americas got here in at $152.9 million (47.6% of complete revenues), down 21% from the year-ago quarter’s ranges. Revenues from Europe, the Center East and Africa had been $82.7 million (25.8%), down 24% yr over yr. The Asia Pacific generated revenues of $85.4 million (26.6%), down 4% yr over yr.
Based mostly on channels, revenues from GoPro.com had been $128 million (40% of complete revenues), remaining flat yr over yr. Within the GoPro.com channel, {hardware} revenues totaled $106 million in contrast with $110.7 million within the prior-year quarter. Subscription revenues got here in at $22.2 million, up 29.8% yr over yr.
Revenues from the Retail channel got here in at $192.8 million (60%), down 26.8% from the year-ago quarter’s ranges.
The corporate had $127.1 million in stock in contrast with $86.4 million within the year-ago quarter.
Different Particulars
Gross revenue was $104.3 million, down 35.2% yr over yr. Complete working bills had been $102.6 million, up 0.1% yr over yr. Working revenue got here in at $1.7 million, down 97.1% yr over yr.
Non-GAAP gross margin contracted 620 foundation factors to 35.1%. Adjusted EBITDA was $22 million, down 69.2% from the year-ago interval.
Cameras with instructed retail costs at or above $400 contributed 90% to revenues within the reported quarter.
Money Movement & Liquidity
For the quarter underneath evaluation, GoPro generated $25.5 million of internet money from working actions towards $163.8 million reported within the year-ago interval.
As of Dec 31, 2022, the corporate had $223.7 million in money and money equivalents with $141 million in long-term debt.
The corporate repurchased $8 million price of shares.
Steerage
For the primary quarter of 2023, revenues are estimated to be $165 million (+/- $5 million). Non-GAAP adjusted loss is predicted to be 17 cents per share (+/- 2 cents).
For the primary quarter, gross margins are anticipated to be 36% (+/- 50 foundation factors). Avenue ASP is projected to be almost $400.
Zacks Rank & Shares to Contemplate
GoPro at the moment has a Zacks Rank #3 (Maintain).
Some better-ranked shares within the broader expertise house are Arista Networks ANET, Jabil JBL and Tremendous Micro Laptop SMCI. Jabil sports activities a Zacks Rank #1 (Sturdy Purchase), whereas Arista Networks and Tremendous Micro Laptop carry a Zacks Rank #2 (Purchase). You possibly can see the entire record of right this moment’s Zacks #1 Rank shares right here.
The Zacks Consensus Estimate for Arista Networks 2022 earnings is pegged at $4.38 per share, rising 0.2 up to now 60 days. The long-term earnings progress price is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate within the final 4 quarters, the typical being 12.7%. Shares of ANET have elevated 1.4% up to now yr.
The Zacks Consensus Estimate for Jabil’s 2023 earnings is pegged at $8.37 per share, rising 2.3% up to now 60 days. The long-term earnings progress price is anticipated to be 12%.
Jabil’s earnings beat the Zacks Consensus Estimate in all of the final 4 quarters, the typical being 8.8%. Shares of JBL have elevated 26.4% up to now yr.
The Zacks Consensus Estimate for Tremendous Micro Laptop’s fiscal 2023 earnings is pegged at $9.54 per share, up by 4.1% up to now 60 days.
Tremendous Micro Laptop’s earnings beat the Zacks Consensus Estimate in all of the final 4 quarters, the typical being 7.8%. Shares of SMCI have been up 70.7% up to now yr.
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GoPro, Inc. (GPRO) : Free Stock Analysis Report
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