Action-video-camera maker GoPro Inc. on Thursday reported its second-quarter net loss nearly quadrupled from a year ago, as it nearly doubled operating expenses despite revenue increasing 38 percent.
The net loss in the three months to June 30 came to $19.8 million, or 24 cents per share, worse than the net loss of $5.1 million, or 6 cents per share, in the same quarter a year earlier.
Excluding items such as the cost of paying executives with stock, adjusted earnings came to 8 cents per share, beating the 7 cents per share expected by analysts polled by FactSet.
Revenue rose to $244.6 million from $177.1 million a year ago. That beat the $237.9 million analysts had been looking for.
Shares slumped $4.67, or 9.7 percent, to $43.30 in after-hours trading, after rising $1.65, or 3.6 percent, to close at $47.97 in the regular session.
GoPro shares went public at $24 apiece in late June, and hit an all-time high of $49.90 before slipping back down.