GoPro Inc (NASDAQ:GPRO) shares are trading higher after the company reported first-quarter financial results and announced a strategic review on Monday after market close.
Here are the key highlights.
• GoPro stock is among today’s top performers. Why is GPRO stock up today?
GoPro Q1 Financials
GoPro reported first-quarter revenue of $99.07 million, down 26% year-over-year. The revenue total beat a Street consensus estimate of $69.92 million, according to data from Benzinga Pro.
Hardware revenue was $72.15 million in the first quarter, down 32.8% year-over-year.
Subscription and Service revenue was $26.92 million in the first quarter, up 0.1% year-over-year
The company reported a loss of 35 cents per share, missing a Street consensus estimate of a loss of four cents per share.
“In Q1, revenue of $99 million was within guidance,” GoPro CFO Brian Tratt said. “We made meaningful progress on key metrics — cash used in operations …
