SAN MATEO, Calif. (BRAIN) — GoPro Inc. revenue for the fourth quarter dropped 32% year-over-year, closing a pandemic-stricken 2020 in which it experienced a 25% overall decline in revenue.
For the fourth quarter, GoPro revenue was $358 million, compared to $528 million during the same time last year. For the year, GoPro revenue was $892 million, compared to $1.95 billion in 2019.
Net income for the quarter dropped 54%, from $95,820 to $44,413, and earnings per share dropped 57%, from $0.65 to $0.28.
An area where GoPro showed gain was in subscribers, which grew 145% year-over-year to 761,000, as the company shifted to a more subscription-based consumer-direct model in 2020.
GoPro.com generated a record $116 million in revenue in the fourth quarter, a 91% year-over-year gain. Full year 2020 online revenue doubled year-over-year to $283 million. Cameras with retail prices more than $300 represented 91% of fourth-quarter revenue.
GoPro's corporate headquarters are in San Mateo. Its stock is traded on NASDAQ under the GPRO symbol.
