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GOPRO OUTSTRIP EXPECTATIONS ON EARNINGS

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GOPRO OUTSTRIP EXPECTATIONS ON EARNINGS

Feb 6 2015, 12.55pm GMT

STOCK.com

GoPro shares lift 14% on Thursday after-hours only to retrace 15% as earnings show growth.

Image: iStock© savcoco

Self-acclaimed ‘maker of the world's most versatile camera and enabler of some of today's most immersive and engaging content’, released well-above expectations earnings for quarter ending December 2014, but failed to impress analysts for 2015 forecasts.

Quarterly revenue climbed 75.4% year over year, to $633.9 million, adjusted earnings per diluted share tripled to $0.99.

GoPro's own guidance predicted revenue in the range of $550 million to $580 million, and earnings per share of $0.65 to $0.69.

Analysts’ forecasts were earnings of $0.70 per share on sales of $580.3 million.

GoPro issued the following statement on earnings:

Internationally GoPro made significant progress in 2014, including establishing a European Sales and Marketing Headquarters in Munich, Germany, developing in-region product assembly in Brazil, and taking first steps into China by launching with the country's two largest online retailers, Tmall and JD, as well as other select retailers; in Q4 EMEA and APAC combined revenue grew approximately 70% year-over-year.

GoPro shipped 2.4 million capture devices in Q4 and 5.2 million in the full year 2014. GoPro capture devices shipped in Q4 2014 exceeded that of the full year 2012.

GoPro App downloads exceeded 2.8 million in Q4 bringing the life to date total to more than 13 million downloads; installs of GoPro Studio exceeded 1.5 million in Q4 with average daily exports of over 30,000.

Google reports more than 3.9 years of content was uploaded to YouTube in 2014 with GoPro in the title, 40% above of the 2.8 years posted in 2013.

For the full year 2014, videos published on GoPro's YouTube Channel were up 71%, views were up 84%, and video minutes watched were up more than 140% year-over-year.

GoPro released a firmware update enhancing HERO4 cameras with new features including Time Lapse Video, 30/6 Burst Photo and ultra high frame rates for slow-motion playback.

Marriott Hotels launched a program at select Caribbean and Latin American resorts offering GoPro HERO4 cameras for guests to use during their stay and to share their experiences.

GoPro announced a partnership with Vislink to bring affordable live-broadcast capability to GoPro devices. The new technology was showcased in the NHL All Star Weekend - GoPro's first agreement with a Big 4 team sports league. Live Broadcast was also featured in ESPN's coverage of the Winter X Games.

GoPro announced an agreement with Roku to bring GoPro content to millions of viewers this spring; GoPro also launched the GoPro Channel App for LG Smart TVs.

However, the company did not announce future and pipeline projects, which created lack of confidence in current quarter expectations from analysts as the consensus predicted sales of $324.7 million, whilst GoPro declared lower earnings of revenue at the $330 million to $340 million range, and earnings per share of $0.15 to $0.17.

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