GoPro collapses with a 40% drop in revenues, the worst downturn in its history


Despite the image they want to give dynamism and everything is better than ever, the reality is that things are not going well, nothing good in GoPro, who just introduced disastrous financial results for the third quarter of 2016, which they were well below forecasts of analysts that caused the company’s stock to plummet by 23%, the worst drop in the history of the company.

The stock market crash led the company to suspend operations so as not to suffer further damage, but in that lapse of nearly an hour the company lost nearly $ 250 million from a value of $ 1.30 billion to $ 972 million. The main reason was that GoPro presented revenues of 240.56 million dollars, while the same period last year income barely exceeded 400 million, which means a total drop of 39.9%.

Read more