SAN MATEO, Calif. (BRAIN) — GoPro Inc. revenue declined 3.9% year-over-year despitethe company's return to pre-pandemic pricing in the second quarter and retail-channel revenue growth of 6%.
Overall revenue for the quarter ending June 30 was $241 million, compared with $251 million at the same time last year. Retail channel revenue was $165 million, while GoPro.com revenue — including subscriptions and services — was $76 million, down 21% year-over-year.
"In Q2, GoPro saw an immediate retail sales and GoPro subscription lift as a result of our mid-quarter go-to-market strategy shift that included a return to pre-pandemic pricing and a greater emphasis on retail sales," said Nicholas Woodman, GoPro's founder and CEO. "We exceeded our Q2 expectations for unit sales, revenue, and subscriber growth, all positive indicators that our strategy shift is working."
GoPro subscribers increased 27% year-over-year to about 2.44 million. Also in the second quarter, GoPro repurchased $15 million in stock and intends to continue its stock repurchase plan in 2023.
GoPro's corporate headquarters are in San Mateo. Its stock is traded on NASDAQ under the GPRO symbol. GoPro stock quote at Marketwatch.com.
