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Action camera maker GoPro reports bigger loss
July 31, 2014 / 8:22 PM / 3 years ago

Action camera maker GoPro reports bigger loss

July 31 (Reuters) - GoPro Inc, which makes cameras worn by surfers, skydivers and other action junkies to record and post their exploits online, reported a bigger quarterly loss as costs nearly doubled.

GoPro shares fell 9.3 percent to $43.50 in extended trading.

The net loss attributable to GoPro stockholders widened to $19.8 million in the second quarter from $5 million a year earlier, in the company’s first quarterly results after its debut on the Nasdaq last month.

The company said revenue jumped 38 percent to $244.6 million in the quarter but operating expenses rose to $119.5 million from $62.8 million a year earlier. (Reporting by Abhirup Roy in Bangalore; Editing by Rodney Joyce)

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