Consumers ‘Learning to Live’ With Pandemic, Says GoPro CEO
COVID-19 sent GoPro Q2 revenue tumbling 54% from the 2019 quarter, up 12% sequentially, said CEO Nicholas Woodman on a Thursday call. “Demand for GoPro cameras consistently improved throughout the second quarter, and we've seen a faster-than-expected rebound in sell-through…
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at retail,” he said. “We remain on track with our product launches slated for the second half." The company's shift to a more direct-to-consumer business model with lower operating costs is working, said Woodman. “GoPro has adapted to the pandemic, and we believe our consumers are learning to live with the pandemic, too.” The stock closed 11% lower Friday at $4.94.