HERO7 Black has helped GoPro out of its hole
GoPro announced Wednesday it was able to amass $377 million in revenue in the fourth quarter last year. The company ended up with $32 million profit. GoPro has been struggling to make a profit since the third quarter of 2015. This is just the second time they’ve been able to do that, and it’s great news.
GoPro has said before the HERO7 was their fastest-selling camera ever. It seems that statement has some weight after seeing the 2018 holiday season. Camera sales were up 20 percent in the fourth quarter in 2018 compared to 2017.
“We’re encouraged by the momentum,” GoPro CEO Nick Woodman said on a call with investors. “GoPro’s brand has never been stronger, our product never better, and we’re fired up for the year ahead.” 2018 was actually a really positive year for GoPro. Camera sales were up 9 percent compared to 2017, equaling out to a total revenue of $1.15 billion.
GoPro did lose money last year, though, having lost $94 million. However, that’s half the amount the company lost during the previous year, having lost $163 million in 2017.
GoPro is moving production to Mexico
Also, GoPro revealed it’s moving its US-bound camera production from China to Guadalajara, Mexico in the second quarter this year. This is because of the on-going trade war between the US and China
“It feels terrific to be now into 2019 with momentum and stable footing,” Woodman said. “[This] gives us the ability to constructively build on the momentum that we’ve got in the business, and to look for ways to grow our business, and frankly spend our time and energy on that, as opposed to firefighting, as we’ve had to do in years past.”