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GoPro turns the first profit after two years thanks to the new Hero 7 camera

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February 7, 2019 by Dunja Djudjic 1 Comment

GoPro has had its ups and downs, but apparently, this holiday season turned out to be profitable for the company. And it’s the first time since 2017. Apparently, GoPro’s newest Hero 7 lineup has helped the company turn its first quarterly profit for the first time in nearly two years.

The company has recently announced the financial results for the fourth quarter and the full year of 2018. In the final quarter of 2018, it had $377 million revenue, which is up 13% year-over-year. GAAP net income was $32 million, and non-GAAP net income was $42 million. The report further states that, on a year-over-year basis, GAAP net income increased by $88 million. The company also announced that it will move some of its camera production from China due to the ongoing trade war. According to The Verge, it will be moved to Guadalajara, Mexico.

The Hero 7 line was announced in September 2018. It features three different cameras: the Hero 7 Black, the Hero 7 Silver, and the cheapest (and weakest) Hero 7 White. There’s something for everyone’s needs, and there are some improvements over the preceding Hero 5 and Hero 6. Apparently, launching this line-up was a good move for the company, considering that it helped to turn a profit again after a while.

Over the years, GoPro has had some drastic ups and downs. In 2016, 2017, and 2018 they had some layoffs as an attempt to overcome financial difficulties. I believe that you remember the Karma drone fiasco, too. However, 2018 was promising for the company, and it seems that the efforts paid off. GoPro CEO Nick Woodman says that “with this momentum and a continued focus on expense management, [GoPro] is planning for growth and profitability in 2019.”

[via The Verge]

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Filed Under: news Tagged With: business, gopro, GoPro Hero 7, Profit, Revenue

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  • Espen Braathen

    “Woodman said that the company plans to “capitalize on this momentum, expanding growth and profitability with a commitment to keeping operating expenses at or below $400 million.”

    But don’t get overexcited about GoPro’s GPRO, +3.50% future. Woodman’s last comment about its goal to keeping its operating expenses at or below $400 million is key, because it shows how he has accomplished this: massive layoffs. At the end of 2016, GoPro had 1,552 employees. At the end of 2017: 1,273 employees. Woodman said Wednesday that the company currently employs 891 workers.”

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Dunja Djudjic is a writer and photographer from Novi Sad, Serbia. You can see her work on Flickr, Behance and her Facebook page.

John Aldred is based in Scotland and photographs animals in the studio and people in the wild.

You can find out more about John on his website and follow his adventures on YouTube and Facebook.

JP Danko is a commercial photographer based in Toronto, Canada. JP
can change a lens mid-rappel, swap a memory card while treading water, or use a camel as a light stand.

To see more of his work please visit his studio website blurMEDIAphotography, or follow him on Twitter, 500px, Google Plus or YouTube.

JP’s photography is available for licensing at Stocksy United.

Clinton Lofthouse is a Photographer, Retoucher and Digital Artist based in the United Kingdom, who specialises in creative retouching and composites. Proud 80's baby, reader of graphic novels and movie geek!
Find my work on My website or follow me on Facebook or My page

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