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