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GoPro takes in over $200 million for the first quarter of 2022

A HERO10 Black Bones on a drone. (Source: GoPro)
A HERO10 Black Bones on a drone. (Source: GoPro)
GoPro has announced its financial performance figures for the first quarter of 2022 (1Q2022), which features highlights such as revenues of US$217 million. The action-cam brand also found that its subscriber numbers are still rising, and that it is still sitting on hundreds of millions in cash.

GoPro might be a practically default name in the action-cam industry; however, it wasn't doing too well in terms of revenues a few years ago. However, it has pulled itself out of that mire by going mostly online with its business, and by adopting a subscription model that involves deals on getting such a service bundled with a new unit.

This worked out well for the company throughout 2021, a year that ended in billion-dollar revenues, and now seems to be continuing into 2022. GoPro has announced that its takings have grown again, and by 6% year-on-year in the first quarter.

It was left with $6 million of that $217 million figure as net income, which allowed its investors to earn $0.04 per share for 1Q2022 (compared to -$0.07 in 1Q2021). The company has also now amassed $450 million "in cash and investments", which may have helped with the new devices and variants it has managed to release into its ecosystem recently.

They include a new bare-bones device that allows a user to turn their drone into a flying Hero10 Black, as well as the Volta 2-in-1 grip/battery pack. GoPro has also recently been awarded an Emmy Award (Technical & Engineering) for its sensor and HyperSmooth stabilization tech.

Buy a HERO10 Black on Amazon

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2022 05 > GoPro takes in over $200 million for the first quarter of 2022
Deirdre O'Donnell, 2022-05-11 (Update: 2022-05-11)