GoPro hires bankers to consider sale after new revenue miss

11 January, 2018, 09:20 | Author: Otis Hoffman
  • A Go Pro Hero 3+ camera is seen at the Nasdaq Market Site before before Go Pro Inc's IPO in New York City

GoPro is reducing its global workforce from 1,254 employees as of September 30, 2017 to fewer than 1,000 employees worldwide.

The company also intends to shrink its workforce by laying off about 20 percent of its workforce.

It did say, however, the restructuring plans announced today will result in a $23 million-$33 million (€19 milion-€28 million) hit to first-quarter results.

"Despite significant marketing support, we found consumers were reluctant to purchase HERO5 Black at the same price it launched at one year earlier", said Woodman, adding that the company "is committed to turning our business around in 2018".

Following a 25 percent plunge, GoPro Inc (NASDAQ: GPRO) sharply recovered Monday on news that it may be exploring a sale.

GoPro, while we are sad to see you go, we wish you the best of luck in 2018 and look forward to seeing what 2018 has in store for your company.

AMD Radeon Vega Mobile Announced For Laptop Market At CES 2018
The company believes that it will able to beat a Nvidia 1080 Max-Q with thin-and-light device that has long battery life. The chip maker has also launched the latest and most powerful Intel® NUC created to complement the latest processor. reporter Courtney Roland found safe, but in confused state
Roland's roommate, who was not identified, told KPRC that a man in a blue truck followed Roland to her home. The Texas sports reporter who went missing over the weekend had been found alive near a Houston-area mall.

Cam Newton: NFL asks for explanation over Carolina Panthers treatment
The Panthers are heading to New Orleans to face the Saints in the wild-card round of the National Football League playoffs. Newton's hats, from the brimless hat to the "barbershop quartet" look , tend to get fans talking on social media.

GoPro is exploring a sale after a tumultuous couple of years that included multiple rounds of layoffs, shrinking sales, and a plummeting stock price.

GoPro has reportedly hired J.P Morgan Chase to help the firm get ready for a potential acquisition, according to CNBC. Woodman told CNBC that he would consider a sale or partnership with another company, though no names were mentioned.

Though the GPRO team had once been anticipating a range of $460 million to $480 million in fourth quarter revenue, the action camera maker now calls for just $340 million.

GoPro Chief Executive Officer Nick Woodman became the best-compensated US executive for 2014, when his company went public. Apple would certainly have the cash to buy GoPro this year, especially if it repatriates a massive chunk of the cash hoard it has overseas, as most analysts generally expect it to do. Wall Street analysts had earlier forecast GoPro to report sales of $472 million for the quarter.

Even though GoPro is exiting the drone business, drone makers such as DJI might be interested in the company purely for its cameras, which could be packaged with their drones. Longbow Research raised shares of GoPro from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $9.60 to $13.00 in a research note on Wednesday, October 18th.


  • All the Golden Globes winners you can't see

    All the Golden Globes winners you can't see

    But it was this speech from the one and only Oprah Winfrey that everyone is talking about. The full list of nominees and winners is available at the Golden Globe Awards website.
    Acer Once Again Flaunts Its Mastery with Thin Laptops; Readies Swift 7

    Acer Once Again Flaunts Its Mastery with Thin Laptops; Readies Swift 7

    Its CES 2018 line-up is unlikely to change that, but you should still skim what's new to see if anything catches your eye. Windows 10 is running the show, as expected, and the laptop will get you up to 10 hours of battery life according to Acer.

    Alexa Comes to PCs and Accessory Devices

    As of mid-December , Amazon was said to have a roster of an estimated 25,000 Alexa skills, while Cortana was said to be on 230. This could be a huge win for Amazon , which is now trying to stay ahead of Google with regard to in-home digital assistants.
  • Why Kim Kardashian Only Wears Skinny, Matrix-Style Sunglasses Now

    Why Kim Kardashian Only Wears Skinny, Matrix-Style Sunglasses Now

    Last May a young man named Tyler Wesley marked the five-year anniversary of his spinal cord injury that left him in a wheelchair. What a nice gesture, although the star isn't new when it comes to doing good deeds.
    Deputy shot, dies trying to catch suspect

    Deputy shot, dies trying to catch suspect

    A Pierce County deputy has died after being shot responding to a robbery call near Spanaway, the Sheriff's Department confirmed. When other law enforcement officers arrived, they found one of the suspected burglars dead of a gunshot wound.
    'Euphoric reception' for Rahul Gandhi in Bahrain

    'Euphoric reception' for Rahul Gandhi in Bahrain

    It also said this was Gandhi's first foreign visit since his elevation as party chief in December. Prime Minister Narendra Modi engages with the diaspora during his visits overseas .
  • Does Donald Trump know the words to the U.S.  national anthem?

    Does Donald Trump know the words to the U.S. national anthem?

    The president had previously also courted controversy over his singing of the national anthem in May previous year . Not surprisingly, it comes from his oldest son, Donald Trump Jr .
    Ouch! Microsoft's Spectre security update bricks some AMD-powered PCs

    Ouch! Microsoft's Spectre security update bricks some AMD-powered PCs

    If your machine is now in an unbootable state, Microsoft recommends visiting its support site for more information. What is uncommon is that Microsoft is not merely suspending this update; the company has also outlined why.
    Fusion GPS lawyer: Someone has already been killed over publication of dossier

    Fusion GPS lawyer: Someone has already been killed over publication of dossier

    Both Hillary Clinton's campaign and the DNC hired Fusion GPS for its opposition research services during the 2016 campaign. Democrats on the committee said they were not consulted ahead of the Republicans' referral to the Department of Justice.
  • Android Pay and Google Wallet fall under new Google Pay moniker

    Android Pay and Google Wallet fall under new Google Pay moniker

    Through Google Pay, it is possible to send and receive money from/to your friends/colleagues/family apart from shopping payments. Bhat says Google Pay is already available on Airbnb , Dice, Fandango, HungryHouse , Instacart, and other apps and websites.
    Secretary for Northern Ireland James Brokenshire resigns

    Secretary for Northern Ireland James Brokenshire resigns

    UUP leader Robin Swann MLA said: "It is with honest regret that I have learned of James Brokenshire's resignation". A law graduate, Mr Brokenshire worked as a partner at worldwide law firm Jones Day before going into politics.

    US 'Needs Pakistan, Won't Fully Cut Off Assistance' - Security Analyst

    The Pakistani officials their interlocutors that the country is still coping with the consequences of Britain's Afghan adventures. " We're hoping that Pakistan will see this as an incentive, not a punishment ", he added.


Arsene Wenger: No agreement with West Brom for Jonny Evans
France defender Eliaquim Mangala has played 14 times for the club this season but manager Pep Guardiola does not view the 26-year-old as viable long-term back-up.

Carolina Panthers can OC Mike Shula, QB coach Ken Dorsey
The Panthers finished 19th in total offense, fourth in rushing offense and 28th in passing this season. He and Shula were both credited by many in helping quarterback develop into an NFL MVP in 2015.

Assassin's Creed Origins Could Be Getting A New Game + Mode
The patch will increase the Heka Chest loot pool with items from the Nightmare , First Civilization , Gladiator and Wacky packs. It sees Bayek leading his group of Assassins into battle against Romans who are occupying a region in Egypt.

Saoirse Ronan FaceTimes mom at Golden Globes
She looked INCREDIBLE! Saoirse always makes a fashion statement on the red carpet , and this year was no different. She was one of many stars who protested gender inequality and sexual harassment by wearing a black dress.

The Weeknd Drops H&M After Racist Ad
For its part, H&M released a statement apologizing and agreeing with those who were "upset about the image". The clothing chain has pulled the ad and issued an apology , which was obtained by Buzzfeed News .

Tanker Collision, 32 Missing
Chinese officials dispatched several maritime police vessels, two rescue boats, and three professional cleaning ships to the area. Footage from state television channel CCTV showed the ship in the grip of an intense fire, enveloped in clouds of black smoke.

James Franco and Tommy Wiseau: Winning Best Actor for the Worst Movie
Tommy Wiseau joins James Franco on stage at the 2018 Golden Globes as he accepts his award for Best Actor in a Musical or Comedy.

Sunday action for Barca and Real Madrid
Los Blancos prepare to travel to northern Spain to visit Celta Vigo on Sunday as they seek to bounce back from a disappointing first half to the season that has left them lingering in fourth place.

Charge on coffee cups to boost recycling proposed by United Kingdom lawmakers
Starbucks said it would also continue the 25 pence (28 euro cent) discount it already offers to customers who bring their own cup. Many major United Kingdom coffee shops give discounts of up to 50 pence (56 euro cents) to customers who bring their own cups.

Charlie Nicholas states his prediction for Nottingham Forest v Arsenal
Speaking to reporters, the veteran Frenchman said, "I will rotate a little bit because we come out of a very high loaded period". Sead Kolasinac (ankle), Aaron Ramsey (hamstring), Olivier Giroud (hamstring) and Nacho Monreal (ankle) all remain sidelined.