Gopro app vs quik
Region-wise, revenues from the Americas came in at $160.9 million (50.8% of total revenues), up 2% from $157.7 million in the year-ago quarter. The company’s Quik App tapped 168,000 subscribers, contributing to revenues in the reported quarter. GoPro expects to surpass 1.7 million subscribers by the year-end, thereby approaching the 2 million subscriber milestone. Driven by higher subscription revenues, GoPro outdid the 1 million subscriber mark and recorded 1.34 million subscribers, representing 168% year-over-year growth, at the close of the reported quarter. Further, its channel inventory is estimated to slightly decline in the fourth quarter, exiting the year between 500,000 and 550,000 camera units in the channel. Also, effective supply chain and channel inventory management together with successful new product launches acted as major tailwinds.įurther, GoPro shipped 832,000 camera units during the reported quarter, down 9.9% year over year, and witnessed a sell-through of slightly less than 800,000 units. Strong retail partnerships and expanding direct-to-consumer and subscription businesses boosted substantial unit sell amid the pandemic. The top line surpassed the consensus estimate of $293 million.
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This enhanced the company’s margins significantly. The surge in revenues was mainly driven by robust sales of premium products across all regions and channels, along with an accretive subscriber base. GoPro generated revenues of $316.7 million, up 12.9% from $280.5 million in the year-ago quarter. price-consensus-eps-surprise-chart | GoPro, Inc. The bottom line beat the Zacks Consensus Estimate by 14 cents. Quarterly non-GAAP net income came in at $55.3 million or 34 cents per share compared with $31 million or 20 cents per share in the year-ago quarter. The year-over-year substantial improvement was mainly driven by top-line expansion.
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On a GAAP basis, net income in the September quarter was $311.8 million or $1.92 per share compared with $3.3 million or 2 cents per share in the prior-year quarter. Encouraged by its diligent operational execution, the company also benefited from higher subscription revenues fueled by a growing customer base. Despite the current volatile environment, the company maintained its impressive momentum on the back of solid direct-to-consumer revenues, subscription-centric strategy, and increasing demand for premium cameras across all regions.
#GOPRO APP VS QUIK FREE#
( GPRO Quick Quote GPRO - Free Report) reported healthy third-quarter 2021 results, with both the bottom line and the top line surpassing their respective Zacks Consensus Estimate.