GoPro reports Q1 adjusted EPS (21) vs. (16c) last year

Reports Q1 revenue $155.5M vs. $174.72M last year. “GoPro exceeded our revenue target in Q1, and we are making progress on our multi-year TAM expansion strategy, but it is taking more time than we anticipated,” said Nicholas Woodman, GoPro’s founder and CEO. “We believe our investments to grow our brand, retail presence and broader product line will restore growth and profitability over the long term. Patience is required, but our progress and product roadmap give us confidence.” “Subscription and service revenue continues to grow and our Q1 aggregate annual subscriber retention rate of 69% was an all-time high,” said Brian McGee, GoPro’s CFO and COO. “Entering Q2, our annual recurring revenue from subscription is approximately $125 million.”