Shares of GoPro Inc (NASDAQ:GPRO) ended Tuesday session in red amid volatile trading. The shares closed down -0.40 points or -3.03% at $12.80 with 102.94 million shares getting traded. Post opening the session at $13.13, the shares hit an intraday low of $12.62 and an intraday high of $13.17 and the price vacillated in this range throughout the day. The company has a market cap of $1.83 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.
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
“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.”
Shares of Navistar International Corp (NYSE:NAV) ended Tuesday session in red amid volatile trading. The shares closed down -0.25 points or -1.31% at $18.80 with 81.62 million shares getting traded. Post opening the session at $18.64, the shares hit an intraday low of $18.43 and an intraday high of $18.92 and the price vacillated in this range throughout the day. The company has a market cap of $1.58 billion and the numbers of outstanding shares have been calculated to be 81.62 million shares.
Navistar International Corp (NAV) on Sept. 6, 2016 announced that James Keyes and Michael Hammes will be retiring from the company’s Board of Directors.
“On behalf of the Board, I would like to thank Jim and Mike for their contributions and service to Navistar during their time served on the Board of Directors,” said Troy Clarke, President and Chief Executive Officer, Navistar. “They both played a critical role over the last few years in supporting the leadership team as we successfully worked through our turnaround.”
Jim and Mike will leave the Board at the completion of the share issuance to Volkswagen Truck & Bus or at Navistar’s 2017 Annual Meeting of Stockholders, whichever comes first.
Keyes has served as non-executive Chairman of Navistar International Corporation since April 2013. He has been a member of the Board since December 2002.
Michael Hammes has served on the Board since February 1996 and served as lead director of the company from December 2007 to April 2013.