GoPro releases Q2 2018 results, announces three upcoming releases
Published : Wednesday, 08 August, 2018Q2 2018 was an awesome quarter for GoPro, as its financial report came out with a whopping 40% quarter-to-quarter rise in revenue to 283 million USD, with a net loss of just $32 million. The firm says that this is an impressive 51% sequential improvement. This is already a second consecutive quarter with a positive result for the previously struggling company, which had to take a variety of self-sustaining actions, such as a major series of employee layoffs.
The company is currently at its lowest inventory level in 4 years, with a drop of $47 million between Q1 2018 and Q2 2018. Operating expenses are also down by $16 million at GoPro, and its payouts to Plus subscriber numbers are up by 9% between the two quarters in question.
An unquestionable leader, GoPro is known to offer the #1 best-selling camera in the entire continent of North America for the fifth year in a row, with a strong foothold on the spherical camera segment, as well as Asia and Europe. In a proud announcement based on NPD Group data, GoPro declared that the US action camera market is 97% occupied by its products, and the Fusion model is showing great results, as it currently takes 48% of the country's spherical camera segment
Company CEO Nicholas Woodman also recently informed the investors that three new products are bound for release later on in 2018. There aren’t any official details on the upcoming releases yet, but there’s a good chance that one of them will be the new flagship Hero 7, a new version of the Hero 6 that came out in late 2017.