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Action-camera maker GoPro ( GPRO ) late Thursday reported a wider-than-expected loss for the first quarter, but sales beat forecasts. GoPro also reaffirmed its full-year revenue guidance. GoPro stock fell nearly 3% after-hours trading, following the earnings news release. GoPro stock fell 6.1%, to 10.71, in Thursday’s regular session. GoPro also announced that it is delaying the launch of its Karma flying-camera drone until the holiday shopping season. It had been scheduled for release this quarter. The San Mateo, Calif.-based company lost 63 cents a share in the March quarter, compared with earnings per share of 24 cents in the year-earlier period. It posted sales of $183.5 million, down 49%. Analysts polled by Thomson Reuters expected GoPro to lose 60 cents a share on sales of $169.1 million. GoPro did not give Q2 guidance, but said it continues to expect full-year sales of $1.35 billion to $1.5 billion, or $1.43 billion at the midpoint. Wall Street had been modeling full-year sales at $1.37 billion. GoPro is facing concerns about market saturation and pricing pressure from competitors, including Garmin ( GRMN ), Sony ( SNE ). Possible catalysts for the company include its upcoming drone and devices for recording 360-degree videos for virtual reality headsets like Facebook ’s ( FB ) Oculus Rift. Scalper1 News
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