GoPro turns its first profit since 2017, thanks to the Hero 7

GoPro's latest Hero 7 camera lineup has had a very strong holiday and has been able to generate quarterly profits for the first time since the third quarter of 2017. GoPro posted revenue of $ 367 million in the fourth quarter of last year and generated revenues of $ 32 million.

GoPro gains a second profit after the third quarter of 2015, before the unfortunate attempt to enter the unmanned aerial vehicle market.

The Hero 7 Black was released last September. The company's latest flagship has provided many internal improvements and new features while closely tied to the design of Hero 5 and Hero 6 Black, both Hero 5 and Hero 6 Black's predecessors.

GoPro said earlier that Hero 7 Black was the company's fastest-selling camera, and that momentum came through the 2018 holiday season. Total camera sales increased 20% in the fourth quarter of 2018 compared to the previous year. Throughout the year, GoPro's camera sales grew 9 percent from 2017 and total revenue was $ 1.15 billion. GoPro reported a loss of $ 940 million this year, which represents half of the $ 136 million loss in 2017.

The camera company also continues to grow its customer base with its cloud storage subscription service, which is offered every five months. GoPro Plus. According to GoPro, there were 199,000 paid Plus subscribers at the end of 2018 and 185,000 at the end of the third quarter last year. GoPro recently announced that it has removed all Plus storage to increase subscriptions.

One of GoPro's goals missed in 2018 was to reduce operating costs. Nick Woodman said he wants to limit the company's operating costs to $ 400 million a year. Wednesday's announcement shows that GoPro spends $ 455 million in 2018.

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