GoPro Stock Declines After Mixed Earnings Report
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BTCCSquare news:
GoPro shares slid nearly 4% following a quarterly earnings report that revealed an 18% year-over-year revenue decline to $153 million. The action camera maker's Core product sales dropped 23%, though subscription revenue held steady at $26 million.
While the company narrowed its adjusted net loss to $12 million from $36 million a year earlier, it failed to return to profitability. The results slightly exceeded revenue estimates but missed on bottom-line expectations, reflecting ongoing challenges in the hardware sector.
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