Leading outdoors action camera maker GoPro has been in the news a lot this year, primarily for filing an IPO and its valuation at sky-high figures. Now it’s finances are newsworthy again, but not for such positive reasons.
Reuters reports the company’s first financial results since its initial public offering in June weren’t great, with a quarterly loss and claims the manufacturer’s costs had nearly doubled.
GoPro shares fell 11 percent. However, Forbes adds the company’s overall result did exceed analyst’s previous revenue targets.