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GoPro Registers Record HERO8 Black Camera Sales This Holiday
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GoPro, Inc. (GPRO - Free Report) communicated that it has witnessed a stellar Black Friday and Cyber Monday shopping episode. On the basis of available data, the action video camera maker reported year-over-year sell-through rise of 30% at major U.S. retail partners and 20% at European retailers during the Black Friday week.
Furthermore, sales at GoPro.com recorded more than 120% year-over-year growth in total camera unit sales during the Black Friday or Cyber Monday period. Notably, HERO8 Black cameras were sold at record levels, comprising more than 90% of aggregate sales. The company is confident that a surge in demand well positions it for 2019 profitability, together with revenues and earnings growth in 2020.
GoPro aims to translate the healthy momentum in its business along with controlled cost into growth and profitability in 2019, while limiting operating expenses below $400 million. The company is making investments in merchandising and retail advertising to drive a bigger brand presence while continuing to innovate. It intends to expand footprint in emerging markets like India and is focused on scaling its CRM efforts to augment customer base.
Moreover, GoPro has expanded its Damaged Camera Replacement policy as part of the GoPro Plus subscription service. As a result, the company’s users in Germany, France, Spain, Japan, Australia and 25 other countries, can go on any adventure knowing that if their devices get damaged, the company will replace it, no questions asked.
The company also integrated its PLUS Subscription service into the GoPro.com checkout experience. This offers customers the opportunity to effortlessly subscribe to PLUS when purchasing a camera. Markedly, the company is witnessing consistent global PLUS subscriber additions.
GoPro has long-term earnings growth expectation of 10%. The stock has lost 9% against the industry’s growth of 29.3% year to date.
The company topped earnings estimates thrice in the trailing four quarters, delivering an average beat of 6.3%. The Zacks Consensus Estimate for its current-year earnings has been revised 12.5% upward over the past 30 days.
Qualcomm has long-term earnings growth expectation of 14%.
Ubiquiti has long-term earnings growth expectation of 9.4%.
PCTEL surpassed earnings estimates in each of the trailing four quarters, the average surprise being 150.6%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Image: Bigstock
GoPro Registers Record HERO8 Black Camera Sales This Holiday
GoPro, Inc. (GPRO - Free Report) communicated that it has witnessed a stellar Black Friday and Cyber Monday shopping episode. On the basis of available data, the action video camera maker reported year-over-year sell-through rise of 30% at major U.S. retail partners and 20% at European retailers during the Black Friday week.
Furthermore, sales at GoPro.com recorded more than 120% year-over-year growth in total camera unit sales during the Black Friday or Cyber Monday period. Notably, HERO8 Black cameras were sold at record levels, comprising more than 90% of aggregate sales. The company is confident that a surge in demand well positions it for 2019 profitability, together with revenues and earnings growth in 2020.
GoPro aims to translate the healthy momentum in its business along with controlled cost into growth and profitability in 2019, while limiting operating expenses below $400 million. The company is making investments in merchandising and retail advertising to drive a bigger brand presence while continuing to innovate. It intends to expand footprint in emerging markets like India and is focused on scaling its CRM efforts to augment customer base.
Moreover, GoPro has expanded its Damaged Camera Replacement policy as part of the GoPro Plus subscription service. As a result, the company’s users in Germany, France, Spain, Japan, Australia and 25 other countries, can go on any adventure knowing that if their devices get damaged, the company will replace it, no questions asked.
The company also integrated its PLUS Subscription service into the GoPro.com checkout experience. This offers customers the opportunity to effortlessly subscribe to PLUS when purchasing a camera. Markedly, the company is witnessing consistent global PLUS subscriber additions.
GoPro has long-term earnings growth expectation of 10%. The stock has lost 9% against the industry’s growth of 29.3% year to date.
The company topped earnings estimates thrice in the trailing four quarters, delivering an average beat of 6.3%. The Zacks Consensus Estimate for its current-year earnings has been revised 12.5% upward over the past 30 days.
GoPro currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader sector are Qualcomm Incorporated (QCOM - Free Report) , Ubiquiti Inc. (UI - Free Report) and PCTEL, Inc. . While Qualcomm and Ubiquiti sport a Zacks Rank #1 (Strong Buy), PCTEL carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Qualcomm has long-term earnings growth expectation of 14%.
Ubiquiti has long-term earnings growth expectation of 9.4%.
PCTEL surpassed earnings estimates in each of the trailing four quarters, the average surprise being 150.6%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>