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Shares of GoPro Inc. (NASDAQ: GPRO) saw a handy gain early on Thursday after the firm commented on its guidance for the third quarter. However, this update may imply more than just one strong quarter, but maybe a turnaround for this beleaguered camera company.

According to GoPro, third-quarter revenue and gross margin are expected to be at the high end of guidance, which previously called for revenue in the range of $290 million to $310 million and gross margin in the range of 36% to 38%.

Consensus estimates from Thomson Reuters call for a net loss of $0.05 per share and $304 million in revenue for the coming quarter.

What stands out here is that GoPro is forecasting a profitable quarter on an adjusted basis, even it isn’t on a GAAP basis. This would be the first profitable quarter for GoPro since the third quarter of 2015. Not to mention this quarter also would be the third straight quarter that this camera company has exceeded Wall Street expectations.

Looking even further ahead, analysts predict that GoPro will post a $0.05 loss in 2017. But in 2018 they forecast earnings per share of $0.23. Positive annual earnings — even if adjusted — have not been seen in a while, or really since the company’s glory days just following its IPO.

This guidance for the third quarter could be one of the first steps for a turnaround in GoPro, but keep in mind that nothing like this happens overnight.

C.J. Prober, GoPro’s chief operating officer, commented:

Consumer demand for GoPro products is strong. Channel inventories have been reduced and we’re incredibly excited about the upcoming launch of two great new products, HERO6 and our 5.2K spherical camera, Fusion.

Shares of GoPro traded at $10.75, up more than 20%, early Thursday. The consensus analyst price target is $9.15 and a 52-week range of $7.14 to $17.68.