Shares of GoPro Inc (NASDAQ:GPRO) ended Friday session in red amid volatile trading. The shares closed down -0.73 points or -5.38% at $12.85 with 7.07 million shares getting traded. Post opening the session at $13.48, the shares hit an intraday low of $12.83 and an intraday high of $13.55 and the price vacillated in this range throughout the day. The company has a market cap of $1.75 billion and the numbers of outstanding shares have been calculated to be 102.94 million shares.
GoPro Inc (GPRO) on July 27, 2016 announced financial results for its second quarter ended June 30, 2016.
“GoPro is well-positioned for the second half of the year. We now have a simple product line, a clean retail channel and clear indications of strong consumer demand,” said GoPro Founder and CEO, Nicholas Woodman. “HERO5 and Karma will contribute to the largest introduction of products in our history, all in time for what we believe will be GoPro’s most exciting fourth quarter, ever — a quarter where we expect to return to profitability.”
Recent GoPro Highlights Include
- Since the May rebranding of Quik and Splice, these mobile apps have doubled their combined monthly active users to 3.7 million and doubled the amount of shared content each month. Combined, these apps have 37 million cumulative downloads.
- The GoPro Mobile App was downloaded 2.6 million times in the second quarter, totaling over 30 million cumulative downloads; Q2 installs of GoPro Studio was 1.5 million, totaling over 17.7 million cumulative installs, with average daily video exports up 15.3% year-over-year to over 43,500.
- According to The NPD Group’s Retail Tracking Service, GoPro accounted for 6 of the top 10 products, including the top 3 spots, on a unit basis in the digital camera/camcorder category in the U.S. in the second quarter. HERO4 Silver remains the best-selling digital image camera on a unit and dollar basis for the seventh consecutive quarter. By our estimate, Session continues to be the #2 best-selling camera on a unit basis.
- According to NPD, GoPro’s second quarter combined digital camera/camcorder unit share increased 110 basis points year-over-year to 21.3% in the U.S.
- According to GfK, GoPro’s second quarter digital imaging unit share in Europe increased 110 basis points year-over-year to 9.4%. GoPro accounted for 4 of the top 5 camcorders in Europe on a unit basis.
- Revenue was up 20% to $221 million sequentially, driven by an 8% increase in units shipped to 759,000 and an 11% increase in average selling price. On a year-over-year basis, average selling price increased 14%.
- Unit sell-thru was up approximately 10% sequentially and was more than 50% higher than sell-in for the second quarter in a row, resulting in an estimated 35% sequential reduction in channel inventory.
- Inventory declined $50 million, or 36%, from the first quarter to $90 million, our lowest inventory level since the second quarter of 2014.
Shares of General Mills, Inc. (NYSE:GIS) ended Friday session in red amid volatile trading. The shares closed down -2.42 points or -3.59% at $65.05 with 6.39 million shares getting traded. Post opening the session at $66.97, the shares hit an intraday low of $65.05 and an intraday high of $66.98 and the price vacillated in this range throughout the day. The company has a market cap of $38.78 billion and the numbers of outstanding shares have been calculated to be 599.55 million shares.
General Mills, Inc. (GIS) on Aug. 30, 2016 announced two new senior leadership appointments. Jon Nudi has been named Senior Vice President; President, U.S. Retail, one of the company’s three operating segments. The U.S. Retail role was previously held by Jeff Harmening who was promoted in June to President and Chief Operating Officer of General Mills. Nudi has most recently been located in Europe running the Europe-Australasia business for General Mills.
Nudi joined General Mills in 1993 and has held a number of roles within the company including serving as the President of the U.S. Snacks division. Under Nudi’s leadership the division experienced both sales and profit growth. Most recently, Nudi has served as head of the company’s Europe-Australasia region where he has delivered outstanding performance including profit growth and top line sales growth. Nudi holds an MBA from the Kellogg School of Management at Northwestern University and a bachelor’s degree from Penn State University.
Replacing Nudi in Europe will be Bethany Quam who has been promoted to Senior Vice President, President, Europe and Australasia region. Quam was most recently head of the Convenience and Foodservice operating segment, responsible for U.S. away-from-home sales and marketing.
“Jon and Bethany are exceptional leaders who know General Mills well and have led successful change efforts for us the last two years,” said Jeff Harmening, President, and Chief Operating Officer of General Mills. “They both bring a unique blend of consumer, customer, and channel knowledge to their new roles, and a strong track record of innovation.”
Quam is a 23-year veteran of General Mills who has held roles in finance, sales, strategic planning, and marketing. As the head of Convenience and Foodservice, Quam significantly reshaped the operating unit around the “Focus 6” platforms and led the segment to record sales and profit growth the last two years. Quam holds an MBA from the University of Minnesota Carlson School of Management and a bachelor’s degree from Indiana University.