GoPro expects revenue slump, slashes workforce

11 January, 2018, 09:18 | Author: Lynne Higgins
  • Drone dealings are done at GoPro

GoPro also announced that Woodman would reduce his 2018 cash compensation to $1.

The disappointing outlook sent shares plummeting almost a third to an all-time low of $5.04 in morning trading Monday. The company will continue to operate independently if it ends up being acquired by another company, but it isn't clear as to exactly how much GoPro wants for its sale as of yet.

Management has already hired JPMorgan Chase to facilitate discussions, according to CNBC sources, but whether buyers have yet come forward remains unknown. Shares were down 19 percent in midday trading on Monday after it confirmed reports that about 20 percent of its workforce was leaving. The company was valued at $3 billion after its 2014 IPO, but has continued to struggle with weak revenues.

However, he also said, "Of course, we need to run the business as though we're going to be independent, and we're planning accordingly".

Frank Beamer selected for College Football Hall of Fame
The 2018 class will be enshrined at the 61st annual NFF Awards Dinner on December 4 at the New York Hilton Midtown hotel. The National Football Foundation and College Hall of Fame announced jointly made the announcement Monday morning.

The company was already forced to announce a price cut on December 10 for its core camera product, the HERO5, due to weak pre-holiday sales.

The company estimated fourth-quarter revenue of $340 million, including an $80 million charge from price cuts. Wittine points out a quote that stands out from his conversations is a supply chain contact looking for a year of more challenges lying ahead for GoPro. Analysts with GBH Insights estimate that tech firms could repatriate as much as $400 billion in cash this year, so any US firm with a large pile of cash stashed overseas would be able to buy GoPro. Wall Street analysts had earlier forecast GoPro to report sales of $472 million for the quarter.

It's been a volatile day for GoPro stock, which was off by 30% before this buyout rumor, giving short-sellers reason to rejoice. GoPro did not talk about how fourth-quarter earnings would be affected. Short interest averaged $269 million, according to S3 data, and it peaked at $361 million on November 1.

In an announcement to the market, the company said it has lowered the price of its premium model, HERO6 Black, from $US499 to $US399 "to align with its good, better, best product strategy". As a result, the company announced that they would be stopping the manufacturing and sale of the Karma drone.


  • De Grandhomme back in New Zealand squad

    De Grandhomme back in New Zealand squad

    They were particularly belligerent after the rain-break - Guptill picked Hasan Ali for consecutive sixes in the 16th over. Black Caps selector Gavin Larsen said the team was looking forward to seeing De Grandhomme back in the side.
    HTC Unveils Wireless Vive Adapter, Vive Pro With Much Higher Resolution

    HTC Unveils Wireless Vive Adapter, Vive Pro With Much Higher Resolution

    The native VR video player Vive Video is now pulling in content from one of the world's largest ad-free open video platforms. This afternoon HTC revealed the HTC Vive Pro, a next-level experience for virtual reality gamers.
    Ripped James Franco Nude Disaster Artist Scenes Are Here

    Ripped James Franco Nude Disaster Artist Scenes Are Here

    Therefore, Tommy Wiseau - who has a brief cameo in the film - finally made it to a major awards show. He mentioned seeing a billboard for the movie with the creator's phone number actually on it.
  • Kendall Jenner Claps Back At The Haters Following Golden Globes Backlash

    Kendall Jenner Claps Back At The Haters Following Golden Globes Backlash

    Despite serving us all with her look, commentators criticized Jenner for what appeared to be an acne outbreak on her cheeks. So the supermodel took to Twitter to respond to critics of her skin, and her response was so empowering, we're cheering.
    Two New Clips Land For 'Three Billboards Outside Ebbing, Missouri'

    Two New Clips Land For 'Three Billboards Outside Ebbing, Missouri'

    James Franco won the best actor in a comedy award for his turn as the eccentric filmmaker Tommy Wiseau in The Disaster Artist . The stars wore all black in solidarity of "Me Too" and "Times Up" in honor of sexual harassment and equality.
    Golden Globes: 'Lady Bird' Wins Best Film, Comedy or Musical

    Golden Globes: 'Lady Bird' Wins Best Film, Comedy or Musical

    While Martin McDonagh's " Three Billboard's Outside Ebbing Missouri " won four awards, including best film, and best screenplay. The actress is up for Best Performance by an Actress in a Motion Picture - Musical or Comedy.
  • Dustin Johnson almost  aces 433-yard par 4 at Tournament of Champions

    Dustin Johnson almost aces 433-yard par 4 at Tournament of Champions

    But not for Johnson who is now a 17-time PGA TOUR victor after his eight-shot demolition at the Sentry Tournament of Champions . He rebounded strongly with the monster drive at the 12th and padded his lead with three straight birdies at Nos.

    Amazon Alexa Arrives On Windows 10 PCs

    Alexa will be coming to select Aspire, Spin, Switch and Swift notebooks, as well as Aspire all-in-one PCs starting from Q1 2018. Amazon claims that users bought more Echo Dots than any other other item on its digital shelves over the last holiday season.

    Crew of 32 missing after ships collide off eastern China

    The foreign ministry said China had deployed specialised "cleaning ships" to the scene to minimise environmental damage. The 225-meter-long second vessel CF CRYSTAL , carrying 64,000 tonnes of grain, was partly damaged in the collision.
  • Congress president to address NRIs shortly

    Congress president to address NRIs shortly

    The Congress also said, "Your talent, skills, tolerance, patriotism is what India needs today". Prime Minister Narendra Modi engages with the diaspora during his visits overseas .
    Airtel updates Rs 448, Rs 509 plans to go against Jio

    Airtel updates Rs 448, Rs 509 plans to go against Jio

    Airtel's revised plans come just days after it launched the Rs 799 plan to offer 3.5GB 4G data every day for a period of 28 days. All these data packs come with their similar offer of unlimited calls, SMS bundle, and access to Jio's bundle of applications.
    Nicole's shout out to Keith leaves people in tears

    Nicole's shout out to Keith leaves people in tears

    Alexander Skarsgard , who played her violent husband, won the best supporting actor in a series, limited series or TV movie prize. But before her red carpet appearance, Nicole Kidman offered her Facebook followers a glimpse of her pre-show routine.


Does President Trump Not Even Know The Words To The National Anthem?
But tweeters also wondered whether Trump's botched Anthem singalong was more a sign of forgetfulness and early dementia. The Anthem was performed by the Zac Brown Band at Monday night's game.

Android Pay and Google Wallet merged into Google Pay
Google has announced that it is merging its Android Pay and Google Wallet into a new service called Google Pay . Considering Android and Google's reach that number is expected to grow significantly.

China to build its Second Foreign Naval Base in Gwadar, Pakistan
Gwadar is strategically located in the Arabian Sea and some 70 km away from Iran's Chabahar port being developed by India. He reaffirmed Islamabad's sacrifices and contributions in the war against terrorism.

Will Old Roseanne Fans Actually Like the New Roseanne ?
One the show's writers attempted to speak, but Barr interrupted by saying, "Speaking of racism, I'm just going to say it". Roseanne in the show is a Donald Trump supporter, and this will be in some way a part of the narrative.

Trump Tower Is On Fire, New York Authorities Confirm
The building houses luxury apartments and businesses. "'The fire wasn't in the building, it was on top of the building". In the meantime, social media users are sharing their thoughts about Trump Tower's rooftop inferno.

H&M Apologizes for Racism Over Children's Hoodie: Social Media Reacts
The R&B singer, whose real name is Abel Tesfaye, signed on with H&M past year to collaborate on a clothing line. The ad appeared on the Swedish retailer's British online store.

Karen Bradley announced as UK's Northern Ireland Secretary as James Brokenshire resigns
The administration collapsed in January previous year after Sinn Fein pulled out over a scandal involving a renewable energy funding scheme.

Police arrests four Kashmiri cricketers for respecting Pakistani national anthem
The players are standing in two lines, the players of one team wore green jerseys and one is in white. A police official said that the accused have been arrested in this case.

We Are Blood in critical need of Type O blood
Eligible donors with types O, A negative and B negative blood are urged to make a Power Red donation, where available. While all blood and donation types are welcome, there's a critical need for type O-negative and platelets .

James Damore sues Google for discrimination against conservative white men
Damore became a media mainstay after penning a highly controversial 3,300-word memo arguing against Google's perceived culture of political correctness.