November 1, 2017 / 8:11 PM / 24 days ago

GoPro reports 37 pct rise in revenue

Nov 1 (Reuters) - Action camera-maker GoPro Inc reported a 37 percent rise in quarterly revenue on Wednesday, boosted by increasing demand for its cameras and drones that helped reduce inventory ahead of the holiday season.

The company reported a net income of $14.7 million, or 10 cents per share, in the third quarter ended Sept. 30, compared with a loss of $104.1 million, or 74 cents per share, a year earlier.

GoPro — whose cameras are worn by surfers, skydivers and other action junkies — said revenue rose to $329.8 million from $240.6 million. (Reporting by Pushkala Aripaka and Supantha Mukherjee in Bengaluru; Editing by Arun Koyyur)

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