GoPro misses revenue forecast for holiday quarter
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A GoPro camera is seen in this illustration photo January 9, 2018. REUTERS/Thomas White/Illustration
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(Reuters) - GoPro Inc (NASDAQ: GPRO) missed its forecast for holiday-quarter revenue on Thursday as it struggles to drive demand for its flagship action cameras.
Revenue fell 38.1 percent to $334.8 million in the fourth quarter ended Dec. 31.
Net loss narrowed to $55.8 million or 41 cents per share from $115.7 million or 82 cents per share, a year earlier.
The company in January pre-announced its fourth quarter results and estimated revenue of $340 million. It also announced plans to exit its Karma drone business.
(Reporting by Laharee Chatterjee in Bengaluru)
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