GoPro has beat its first-quarter revenue expectations and reported smaller-than-expected losses, the company has announced, sending its shares higher.
GoPro posted $202 million in revenue during the first quarter this year, along with 3% growth on the year in units shipped
While that revenue marked a 7% decrease on the year, it was higher than market analysts had predicted and pushed the company’s shares higher in trading.
GoPro says that its aggressive marketing campaigns in the wake of recent financial troubles has pushed sales of its core products, the HERO6 and HERO5 Black action cameras, higher in the beginning of 2018.
The company said that sales of the HERO6 and HERO5 Black cameras accounted for more than 60% of the camera units it shipped during the quarter.
Since GoPro announced more layoffs earlier this year it has pushed continuous offers of its action cameras, as well as its 360 camera the GoPro Fusion, to help push inventory.
Speaking to the press, GoPro’s CEO Nick Woodman said we can expect similar aggressive marketing campaigns to last through the year.
Via CNBC