GoPro Inc. (NASDAQ:GPRO) shares went into the tank Friday, after it announced financial results for its second quarter.
The San Mateo, Calif-based technology company revealed Revenue for Q2 2019 was $292 million, up 20% sequentially, 3% year-over-year, and 9% year-over-year excluding our aerial business, which we exited in 2018.
GAAP gross margin for Q2 2019 was 35%, up from 29% in the same period a year ago. Non-GAAP gross margin for Q2 2019 was 36%, up from 31% in the same period a year ago.
GoPro suffered a net loss was $11 million, or an $0.08 loss per share. Non-GAAP net income was $4 million, or a $0.03 income per share, a $25-million improvement year-over-year.
GoPro boasted its Plus subscription service surpassed 252,000 active paying subscribers as of July 31, 2019, up 15% since our Q1 2019 Earnings Release dated May 9, 2019, and up more than 50% year-over-year.
In the U.r.y in Q2 2019, according to the NPD Group. HERO7 Black was the No. 1 selling camera in all of digital imaging by unit volume, and GoPro's HERO7 line plus its spherical camera, Fusion, were the top-four selling cameras in our category according to the NPD Group.
To quote CEO Nicholas Woodman, "Given our continued sell-through momentum, channel inventory levels and the strength of new products slated for later this year, we are raising our outlook for the second half of 2019."
Shares tumbled 68 cents, or 13.4%, to $4.36
