GoPro has laid off 7 percent of its workforce, and warned investors of poor sales of the company’s action cameras. The news comes just a few weeks before GoPro is set to officially announce its fourth quarter earnings for 2015.
The company is also downgrading its guidance for the fourth quarter from about $500-$550 million in revenue to $435 million. GoPro blames that drop on what it’s calling “lower than anticipated sales of its capture devices” in the final quarter of 2015. That would represent only 70 percent of the company’s revenue in its big fourth quarter in 2014, when it pulled in $633.9 million. Industry analysts were originally projecting that GoPro’s Q4 revenue in 2015 would be somewhere closer to $690 million.
Poor sales…