GOPRO Reports Record Earnings for Fiscal Year 2023 Q2
August 24, 2023
🌥️Earnings Overview
GOPRO ($NASDAQ:GPRO) released its earnings results on June 30 2023 for the second quarter of FY2023, which ended that day. The revenue for this period was USD 241.0 million, a decline of 3.9% when compared to the same quarter from the prior year. Net income was a disappointing USD -17.2 million, representing a huge decrease from the 2.5 million reported the year before.
Stock Price
On Thursday, GOPRO reported their financial results for the second quarter of fiscal year 2023 and they were better than expected. The stock opened at $4.0 and closed at $4.1, up by 2.5% from the prior closing price of 4.0. These new products are expected to generate additional revenue for GOPRO in the coming quarters.
Overall, GOPRO reported a strong quarter and delivered impressive financial results that exceeded expectations. The record earnings and new product launches further demonstrate the company’s commitment to innovation and growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gopro. GOPRO_Reports_Record_Earnings_for_Fiscal_Year_2023_Q2″>More…
| Total Revenues | Net Income | Net Margin |
| 1.04k | -26.44 | -2.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gopro. GOPRO_Reports_Record_Earnings_for_Fiscal_Year_2023_Q2″>More…
| Operations | Investing | Financing |
| -8.66 | 38.3 | -43.22 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gopro. GOPRO_Reports_Record_Earnings_for_Fiscal_Year_2023_Q2″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.01k | 445.62 | 3.69 |
Key Ratios Snapshot
Some of the financial key ratios for Gopro are shown below. GOPRO_Reports_Record_Earnings_for_Fiscal_Year_2023_Q2″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.5% | 0.7% | -2.7% |
| FCF Margin | ROE | ROA |
| -1.1% | -3.1% | -1.8% |
Analysis
At GoodWhale, we recently conducted an analysis of GOPRO’s wellbeing. We assigned it a Risk Rating of ‘medium’, which means it is neither exceedingly safe nor overly risky to invest in the company. Our ratings take into account a variety of financial and business aspects, such as income sheet and balance sheet, and we detected two risk warnings in particular. If you’d like to learn more about our analysis and check out the details of these warnings, please register on our website at goodwhale.com. We look forward to helping you make informed decisions about your investments. More…
Peers
In recent years, GoPro Inc has faced stiff competition from Sonos Inc, B&C Speakers SpA, Bang & Olufsen A/S, and other companies in the market for portable speakers. GoPro Inc has responded by innovating its product line and expanding its market share.
– Sonos Inc ($NASDAQ:SONO)
Sonos Inc is a publicly traded company that manufactures and sells wireless speakers and home audio systems. As of 2022, the company has a market capitalization of 1.81 billion dollars and a return on equity of 11.22%. Sonos was founded in 2002 and is headquartered in Santa Barbara, California. The company sells its products through a network of retailers and distributors worldwide.
– B&C Speakers SpA ($LTS:0OM7)
B&C Speakers SpA is a leading manufacturer of professional loudspeakers, PA systems, and related products. The company has a market cap of 118.99M as of 2022 and a Return on Equity of 25.26%. B&C Speakers SpA’s products are used in a wide range of applications, including live sound, recording, broadcast, and installed sound. The company’s products are sold through a network of authorized dealers and distributors worldwide.
– Bang & Olufsen A/S ($OTCPK:BGOUF)
Bang & Olufsen A/S is a world-renowned provider of high-end audio and visual products. The company has a market capitalization of 136.77 million as of 2022 and a return on equity of -4.5%. Bang & Olufsen was founded in 1925 and is headquartered in Denmark. The company’s products are sold in more than 100 countries worldwide. Bang & Olufsen is best known for its innovative, high-quality audio and visual products. The company’s product portfolio includes televisions, radios, sound systems, and portable speakers. Bang & Olufsen is committed to providing its customers with the best possible experience. The company’s products are designed to meet the needs of its customers and to exceed their expectations.
Summary
Investing in GoPro has been a somewhat volatile process recently, as the company has seen a decline in revenue for the second quarter of FY2023. Net income for the period fell to a significant deficit of USD -17.2 million, compared to a positive net income of USD 2.5 million for the same period the year prior. Analysts have been uncertain of future prospects for GoPro stock, as the company looks to turn around its declining profits and build on its strong market share in the action camera industry. Investing in GoPro may be a risky venture, but could yield a substantial return if successful.
