* Q2 net loss widened to $19.8 mln from $5 mln
* Expects a seasonally stronger second half - CFO
* Sees Q3 EPS of $0.6-$0.8/shr share
* Shares fell 11 pct to $42.70 in extended trading
(Adds Q3 estimates; updates shares)
July 31 GoPro Inc, which makes wearable
cameras used by surfers, skydivers and other action junkies to
post their exploits online, reported a bigger quarterly loss as
costs nearly doubled.
GoPro shares fell 11 pct to $42.70 in extended trading after
its first financial results since its initial public offering in
Research and development spending more than doubled to $34.7
million while costs from its Nasdaq share market listing pushed
up general expenses.
The net loss attributable to GoPro stockholders grew to
$19.8 million, or 24 cents per share, in the second quarter from
$5 million, or 6 cents.
Excluding items, GoPro earned 8 cents per share and the
company said it expected a seasonally stronger second half.
CFO Jack Lazar forecast earnings of 6-8 cents per share in
the current quarter on revenue of between $255 million and $265
This is higher than the $244.6 million revenue reported in
the second quarter, but that 38 percent jump in sales was offset
by operating expenses of $119.5 million, almost double a year
Operating expenses would drop back to between $92.5 million
and $95 million in the current quarter, Lazar told analysts on a
Videos taken using GoPro cameras have made a big splash on
the Internet. Its videos attracted more than 1 billion views in
the first quarter on YouTube, where its channel has 2 million
subscribers, the California-based company said in June.
Up to Thursday's close, GoPro shares had doubled from its
IPO price to $46.32.
(Reporting by Abhirup Roy and Lehar Maan; Editing by Rodney