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July 22, 2015

GoPro beats Wall Street estimates with 71% increase in revenue

Combined revenue from EMEA and APAC went up 126%.

By CBR Staff Writer

Driven by strong demand for its wearable cameras across Europe and Asia, GoPro posted $419.9m in revenue, which is 71% more than the $244m it generated in Q2 2014.

The company said that it sold its products over 40,000 stores worldwide and shipments of point-of-purchase displays increased by over 40%.

The company highlighted that the international sale of its products contributed to more than 50% of Q2 revenue, with combined revenue generated from EMEA and APAC increasing by 126% year-over-year.

China was named one of the company’s top ten revenue-generating countries.

In Europe alone, the revenue increased to $137.2m from $67m in Q2 2014, and in the Americas GoPro saw revenue surge by 39% to $212.3m.

In Q2 2015, the company introduced the waterproof HERO4 Session, which is 50% smaller and 40% lighter than other HERO4 cameras, along with an entry-level camera that features a rear facing LCD screen.

The company also announced that GoPro Mobile App was downloaded 2.5 million times in Q2 2015, and it saw a 100% surge in installation of GoPro Studio, exceeding 1.7 million installs.

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GoPro CEO Nicholas Woodman said: "I couldn’t be more proud of our aggressive pace of innovation. With the introduction of HERO4 Session and HERO+ LCD, we’ve launched five new cameras in the past 10 months, exciting both new and existing customers and contributing to strong second quarter results.

"Our core business is enjoying terrific momentum as we charge forward into attractive adjacent markets."

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