GoPro Expects Q2 Revenue $170M +/- $5M, Est $225.753M
Portfolio Pulse from Benzinga Newsdesk
GoPro has revised its Q2 2024 revenue forecast to approximately $170 million, a 29% decrease from the previous year, missing the estimated $225.753 million. The reduction is attributed to the delayed launch of a new entry-level camera to Q3 and a new 360 camera to late Q4, impacting 2024 revenue by $65 to $85 million.
May 07, 2024 | 9:08 pm
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GoPro's revised Q2 2024 revenue forecast significantly misses estimates due to product launch delays, indicating potential short-term negative impact on stock.
The significant downward revision in GoPro's revenue forecast for Q2 2024, attributed to delays in product launches, is likely to disappoint investors and could lead to negative sentiment in the short term. The miss against analysts' expectations further compounds the potential for a negative reaction in the stock price.
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