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GoPro profit misses consensus by 23.4% in Q2

GoPro said its second-quarter normalized net income came to 20 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

The per-share result swung to a profit from the prior-year loss of 14 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $28.9 million, compared with a loss of $11.4 million in the prior-year period.

The normalized profit margin rose to 7.1% from negative 4.7% in the year-earlier period.

Total revenue grew 71.7% on an annual basis to $419.9 million from $244.6 million, and total operating expenses increased 43.1% year over year to $373.8 million from $261.3 million.

Reported net income totaled $35.2 million, or 24 cents per share, compared to a loss of $19.9 million, or a loss of 24 cents per share, in the year-earlier period.