Shares of GoPro Inc. GPRO advanced 6% in extended trading Tuesday after the company reported quarterly results that topped analyst revenue and earnings estimates. GoPro posted a fiscal first-quarter net loss of $3.7 million, or 2 cents a share, compared with net income of $18 million, or 10 cents a share, in the year-ago quarter. Adjusted earnings were 4 cents a share. Revenue was $294.3 million, down 3.5% from $305.1 million a year ago. Analysts surveyed by FactSet had expected on average a net loss of 2 cents a share on revenue of $281.5 million. Shares of GoPro have tumbled 46% this year, while the broader S&P 500 index SPX has increased 14%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.