GoPro Kills Its Top Camera While Delaying Its Successor
GoPro's stock (NASDAQ: GPRO) recently tumbled after the action camera maker cut its full-year revenue guidance from 9%-12% growth to just 6%-9% growth. It blamed the reduction on a production delay, which will shift the shipments of its new Hero 8 Black cameras from the third quarter to the fourth quarter.
GoPro also expects the delay to reduce the midpoint of its adjusted gross margin for the second half of 2019 from 37.5% to 36.5%. As a result, it slashed its full-year adjusted EPS forecast from $0.40 to $0.30-$0.35, which is still better than its loss of $0.23 per share in 2018.
Simply put, any investors who hoped that GoPro's new Hero 8 and 360-degree Hero MAX cameras would pull its stock out of the gutter were sorely disappointed. Let's take a look at how GoPro dropped the ball again -- and why it might be time for investors to cut their losses.
Source Fool.com
