GoPro estimated fourth-quarter revenue below market expectations due to disappointing sales of its action cameras.
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GoPro estimated fourth-quarter revenue below market expectations due to disappointing sales of its action cameras, and said it would cut 7 percent of its workforce, sending its shares into freefall.
GoPro shares plunged 28 per cent to $10.50 in extended trading, or less than half its 2014 IPO price of $24.
Traders told Reuters that they had expected a revenue miss in the holiday quarter, but not of this magnitude, adding that this does not bode well for 2016.
