Source: GoPro S-1 Filing
The company reported a gross margin of 45.2% compared to 41.1% in the same quarter from the previous year.
GoPro did not give guidance going forward but there are consensus estimates of $0.16 in EPS on $333.72 million in revenue for the third quarter. The consensus estimates for the full year are $1.39 in EPS on $1.73 billion in revenue.
International sales accounted for over half of the first quarter revenue, EMEA and APAC revenue was up 66% year-over-year.
In the first quarter, the GoPro Channel App reached over one million downloads on the Xbox platform, and users watched an average of 25 minutes of GoPro videos during each viewing session.
At the same time, the GoPro Mobile App was downloaded 2.6 million times, totaling nearly 16 million cumulative downloads. First quarter installs of the GoPro Studio exceeded 1.7 million with average daily exports of nearly 40,000, a 68% year-over-year increase.
GoPro unveiled the smallest, lightest and most cost-effective wireless HD micro transmitter on the broadcast market, the HEROCast, which enables consumers to experience live events like never before.
Nicholas Woodman, Founder and CEO of GoPro, said:
We kicked off 2015 by delivering the second highest revenue quarter in GoPro’s history. We are making investments in talent, technology, software, and innovative new products that will fuel growth and strengthen GoPro’s ecosystem.
Cash, cash equivalents and marketable securities totaled $491.9 million compared to $422.3 million at the end of December 2014.
The company currently trades at nearly 34 times its 2015 earnings.
Shares of GoPro closed Tuesday up 4% at $47.02. Following the release of the earnings report, shares were down 6% at $44.11 in after-hours trading. The stock has a consensus analyst price target of $63.23 and a 52-week trading range of $28.65 to $98.47.
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