GoPro Q4 Profit, Revenues Beat Street View; Shares Up 5%

(RTTNews) - Shares of GoPro, Inc. (GPRO) gained over 5% in the extended trading session on Thursday after the company's fourth-quarter profit and revenues trumped Wall Street estimates.

GoPro's fourth-quarter profit rose to $53 million or $0.32 per share from $44 million or $0.28 per share last year. On an adjusted basis, profit rose to $66 million or $0.41 per share from $61 million or $0.39 per share last year.

Revenues for the fourth quarter rose 9% to $391 million from $358 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.35 per share and revenues of $382.63 million. Analysts' estimates typically exclude one-time items.

GoPro.com revenue, including subscription revenue, increased 10% year-over-year to $128 million, or 33% of total revenue. GoPro and Quik subscription revenues totaled $16.8 million, up 118% year-over-year.

Further, GoPro's board of directors authorized the company to repurchase up to $100 million of its Class A common stock.

GPRO closed Thursday's trading at $8.44, down $0.62 or 6.84%, on the Nasdaq. The stock, however, gained $0.45 or 5.33%, in the after-hours trading.