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- GoPro will report fourth-quarter earnings after the bell on Thursday.
- Investors, both professional and retail, are mostly bearish ahead of the report.
- Watch GoPro trade in real time here.
GoPro is set to report its fourth-quarter earnings after the bell on Thursday.
Wall Street is expecting an adjusted loss of $0.11 on revenue of $340.17 million. Of the 11 analysts tracked by Bloomberg, just one rates the company a buy ahead of earnings, while seven rate GoPro a hold and three a sell.
Millennial traders aren’t much much more optimistic. On the trading app Stockpile, users were selling shares 1.2 times more often than they were buying them, according to the company. About 16% of millennials who owned shares in GoPro sold stock ahead of the report, which was about five times the usual rate on the app.
Earlier this month, GoPro cut more than 250 jobs and left the drone industry entirely after it was forced to recall its Karma drone last year. A faulty battery connection could cause the drones to fall out of the sky during operation.
The company recently said it was working with JPMorgan to find a buyer for the company.
Shares of GoPro are down 26.61% so far this year and down about 42% since the company’s last earnings report.
Read more about GoPro’s layoffs here.
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