SAN MATEO, Calif. (BRAIN) — GoPro Inc. second-quarter revenue grew slightly year-over-year, while the sport camera brand reported a 65% jump in subscribers during the period.
Revenue for the quarter ending June 30 was up 0.4% to $251 million, compared with $250 million at the same time last year. Net income for the quarter was down 51%, from $9.5 million to $4.7 million. Earnings per share dropped 80%, from $0.10 to $0.02.
GoPro subscribers increased year-over-year to 1.91 million. The subscription and service revenue represented "a powerful driver of profitability," said Brian McGee, GoPro's CFO and COO.
Subscription and service revenue increased 71% year-over-year to $20 million.
"We're excited about our upcoming hardware and software launches in the second half of 2022, and we expect them to contribute to continued profitability and impressive subscription growth," said Nicholas Woodman, GoPro's founder and CEO.
Cameras with retail prices at or above $400 represented 93% of the second-quarter camera revenue, up from 77% in Q2 2021.
GoPro's corporate headquarters are in San Mateo. Its stock is traded on NASDAQ under the GPRO symbol. GoPro stock quote at Marketwatch.com.
