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GoPro’s Appeal Goes Global

 

GoPro’s Appeal Goes Global

By Burt Carey

 

They’re the fun little cameras used by scuba divers, bicycle riders, sky divers and other outdoor enthusiasts who want personalized video of their exploits. And after becoming a publicly traded company on the NASDAQ exchange just one year ago, the company is expanding sales in overseas markets.

GoPro, NASDAQ, cool videos, top products, GoPro Licensing, HERO4Worn by riders in this year’s Tour de France to create never-before-seen viewpoints, GoPro cameras are out-selling the point-of-view camera competition in every category.

On Tuesday the company, which trades under the ticker name GPRO, reported sales of $419.9 million in the second quarter of 2015, posting adjusted earnings per share of 35 cents. Both numbers crushed expectations by market insiders. Wall Street analysts had predicted a more modest $392.5 million and 26 cents per share. Nearly half of those Q2 sales were recorded in overseas markets, and China is now a top 10 revenue-generating country for GoPro.

GoPro announced its initial public offering in June 2014 and posted sales of $244.6 million for the second quarter of 2014.

“I couldn’t be more proud of our aggressive pace of innovation” said GoPro founder and CEO Nicholas Woodman. “With the introduction of HERO4 Session and HERO+ LCD, we’ve launched five new cameras in the past 10 months, exciting both new and existing customers and contributing to strong second quarter results. Our core business is enjoying terrific momentum as we charge forward into attractive adjacent markets.”

The company is expected to launch into the drone business in the first half of 2016 with a GoPro-branded quad-copter.

And you thought GoPro just made cool little cameras that stunt divers and other enthusiasts use to shoot cool videos. The company is, quite simply, blowing away the competition.

According to a press release by GoPro, their units accounted for four of the top five products on a unit basis in the combined digital camera and camcorder category in the US for Q2. In the same category, on a dollar basis, GoPro capture devices accounted for three of the top five products. GoPro was also the leader in accessory unit sales with eight of the top 10 selling accessories.

GoPro products are now sold in more than 40,000 stores worldwide, reflecting the addition of new retail customers, increased store counts with existing customers, and international expansion.

In addition to being the official camera of the Tour de France, GoPro Motorrad Grand Prix of Deutschland was viewed live by more than 9 million people across Europe. Millions more viewed the broadcast in other countries. Each GoPro course preview video generated more than a half-million views each.

The GoPro Mobile App was downloaded 2.5 million times in Q2, totaling over 18 million cumulative downloads; Q2 installs of GoPro Studio exceeded 1.7 million, up over 100 percent year-over-year.

GoPro, based in San Mateo, Calif., has also introduced GoPro Licensing, a content licensing portal that professionals can use to search, sort and request a license to content from GoPro’s rapidly growing library.

The company’s earnings announcement was made after the markets closed Tuesday. Its stock was trading at $60.50 per share, up 50 percent from a year ago.

Source:  Sportsmans Lifestyle

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