GoPro Loses Money Again: FY17 Report Released


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Today, on February 2, many manufacturers released the reports for the Q4, 2017 and the whole fiscal year. Earlier we got acquainted with Apple’s data, and now we are going to take a peek at GoPro’s report. But if the former one had record sales, GoPro has nothing to boast of.

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According to the Q4, 2017 data, GoPro that specialized in making sports cameras has had a net loss of $55.848 million. It’s up by 51.7% in comparison to last year’s $116 million. Apart from this, the company has had a net loss of $183 million, which is up by 56.4% if compared to 2016’s 419 million net revenue.

In the Q3, 2017 the company showcased it’s still alive. The net income was $14.661 million, which was down by 114% of last year’s result, though. But the company related it to the overall market demand rose towards its action cameras and UAVs. Surprisingly, more than 50% of GoPro’s revenue was generated in markets outside of the US. The company was thinking to improve the numbers once the GoPro Fusion is launched, but the latter didn’t help much.

However, in early January, GoPro cut at least 250 employees and officially announced its withdrawal from the drone business. Literally, it said ‘the Karma reached the #2 market position in its price band in 2017, the product faces margin challenges in an extremely competitive aerial market.’ This simply meant they can’t make money by selling drones if it’s too hard to sell one.

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At last, GoPro released an FY17 report showing a revenue of $1.18 billion, down 0.5% in comparison to 2016’s $1.185 billion.

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