Business
Why GoPro Stock Dropped 19% Today – Motley Fool
The maker of outdoor action cameras continues to work on a turnaround plan, but fourth-quarter revenue still fell short.
What happened
Shares of action-camera maker GoPro(NASDAQ:GPRO) sank more than 20% at their lows on Friday, and remained down 18.6% as of 3:30 p.m. EST.
The company announced its fourth-quarter earnings results Thursday night, which showed revenue dropping by more than 32% versus the prior-year period.
So what
Though the company highlighted the 28% sequential improvement in revenue versus the third quarter, the seasonally stronger fourth quarter fell short when compared to the 2019 period. For…
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