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What to Expect Ahead of GoPro's (GPRO) Q4 Earnings Release?
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GoPro, Inc (GPRO - Free Report) is slated to release fourth-quarter 2021 results on Feb 3.
For fourth-quarter 2021, the company projects revenues to be $380 million (+/- $5 million). The Zacks Consensus Estimate is pegged at $383.15 million, indicating a year-over-year increase of 7.1%.
GoPro projects adjusted earnings to be 35 cents (+/- 3 cents) per share. The Zacks Consensus Estimate for quarterly earnings is pinned at 35 cents per share, suggesting a decline of 10.3% rise year on year.
The company’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 90%.
In the last reported quarter, GoPro delivered 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 bottom line beat the Zacks Consensus Estimate by 14 cents.
GoPro generated revenues of $316.7 million, up 12.9% from $280.5 million in the year-ago quarter.
Let’s see how things have shaped up for the upcoming announcement.
Factors at Play
GoPro is likely to have gained from a healthy demand environment and strength in its product portfolio as well as demand for new product rollouts (especially the latest flagship camera, HERO10 Black) in the fourth quarter. The company’s higher-end cameras continue to witness strong demand across all regions.
Momentum in its direct-to-consumer business is expected to have positively impacted GoPro’s top line. The company is also benefitting from higher subscription revenues fueled by a growing customer base. In the last reported quarter, the company recorded 1.34 million subscribers, representing 168% year-over-year growth. Subscription revenues surged 143% to $14 million in the third quarter.
Go Pro’s Quik app is also witnessing increasing subscriptions, which is likely to have contributed to the company’s margin expansion. Quik App had 168,000 subscribers at the end of third-quarter 2021.
The company’s strong retail partnerships and robust direct-to-consumer and subscription businesses are expected to have boosted unit sales.
Amid pandemic-induced disruptions, Go Pro’s effective supply chain and channel inventory management are likely to have acted as tailwinds.
What Our Model Says
Our proven model does not predict an earnings beat for GoPro this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
GoPro has an Earnings ESP of 0.00% and a Zacks Rank #1. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With Favorable Combinations
Here are some stocks you may consider as our proven model shows that these have the right mix of elements to beat estimates this time.
ONTO Innovation is set to release fourth-quarter 2021 results on Feb 8. The Zacks Consensus Estimate for earnings is pegged at $1.11 per share, which suggests an increase of 54.2% from the prior-year quarter’s reported figure. Shares of ONTO have increased 48.2% in the past year.
Advanced Micro Devices (AMD - Free Report) has an Earnings ESP of +3.47% and a Zacks Rank of 2 at present.
AMD is scheduled to release fourth-quarter 2021 results on Feb 1. The Zacks Consensus Estimate for earnings is pegged at 75 cents per share, suggesting an increase of 44.2% from the prior-year quarter’s levels. Shares of AMD have rallied 20.1% in the past year.
Electronic Arts (EA - Free Report) has an Earnings ESP of +1.82% and a Zacks Rank of 3.
Electronic Arts is scheduled to release third-quarter fiscal 2022 results on Feb 1. The Zacks Consensus Estimate for earnings is pegged at $3.22 per share, indicating an increase of 4.2% from the year-ago quarter’s levels. Shares of Electronic Arts have declined 9.1% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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What to Expect Ahead of GoPro's (GPRO) Q4 Earnings Release?
GoPro, Inc (GPRO - Free Report) is slated to release fourth-quarter 2021 results on Feb 3.
For fourth-quarter 2021, the company projects revenues to be $380 million (+/- $5 million). The Zacks Consensus Estimate is pegged at $383.15 million, indicating a year-over-year increase of 7.1%.
GoPro projects adjusted earnings to be 35 cents (+/- 3 cents) per share. The Zacks Consensus Estimate for quarterly earnings is pinned at 35 cents per share, suggesting a decline of 10.3% rise year on year.
The company’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 90%.
In the last reported quarter, GoPro delivered 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 bottom line beat the Zacks Consensus Estimate by 14 cents.
GoPro, Inc. Price and EPS Surprise
GoPro, Inc. price-eps-surprise | GoPro, Inc. Quote
GoPro generated revenues of $316.7 million, up 12.9% from $280.5 million in the year-ago quarter.
Let’s see how things have shaped up for the upcoming announcement.
Factors at Play
GoPro is likely to have gained from a healthy demand environment and strength in its product portfolio as well as demand for new product rollouts (especially the latest flagship camera, HERO10 Black) in the fourth quarter. The company’s higher-end cameras continue to witness strong demand across all regions.
Momentum in its direct-to-consumer business is expected to have positively impacted GoPro’s top line. The company is also benefitting from higher subscription revenues fueled by a growing customer base. In the last reported quarter, the company recorded 1.34 million subscribers, representing 168% year-over-year growth. Subscription revenues surged 143% to $14 million in the third quarter.
Go Pro’s Quik app is also witnessing increasing subscriptions, which is likely to have contributed to the company’s margin expansion. Quik App had 168,000 subscribers at the end of third-quarter 2021.
The company’s strong retail partnerships and robust direct-to-consumer and subscription businesses are expected to have boosted unit sales.
Amid pandemic-induced disruptions, Go Pro’s effective supply chain and channel inventory management are likely to have acted as tailwinds.
What Our Model Says
Our proven model does not predict an earnings beat for GoPro this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
GoPro has an Earnings ESP of 0.00% and a Zacks Rank #1. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With Favorable Combinations
Here are some stocks you may consider as our proven model shows that these have the right mix of elements to beat estimates this time.
ONTO Innovation (ONTO - Free Report) has an Earnings ESP of +0.9% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
ONTO Innovation is set to release fourth-quarter 2021 results on Feb 8. The Zacks Consensus Estimate for earnings is pegged at $1.11 per share, which suggests an increase of 54.2% from the prior-year quarter’s reported figure. Shares of ONTO have increased 48.2% in the past year.
Advanced Micro Devices (AMD - Free Report) has an Earnings ESP of +3.47% and a Zacks Rank of 2 at present.
AMD is scheduled to release fourth-quarter 2021 results on Feb 1. The Zacks Consensus Estimate for earnings is pegged at 75 cents per share, suggesting an increase of 44.2% from the prior-year quarter’s levels. Shares of AMD have rallied 20.1% in the past year.
Electronic Arts (EA - Free Report) has an Earnings ESP of +1.82% and a Zacks Rank of 3.
Electronic Arts is scheduled to release third-quarter fiscal 2022 results on Feb 1. The Zacks Consensus Estimate for earnings is pegged at $3.22 per share, indicating an increase of 4.2% from the year-ago quarter’s levels. Shares of Electronic Arts have declined 9.1% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.