Benzinga | Nov 5, 2021 09:32AM EDT

Why GoPro Shares Are Rising During Thursday's After-Hours Session

GoPro Inc (NASDAQ:GPRO) shares are trading higher after the company reported better-than-expected third-quarter EPS and sales results.

GoPro reported quarterly earnings of 34 cents per share which beat the analyst consensus estimate of 20 cents per share. GoPro also reported quarterly sales of $316.67 million which beat the analyst consensus estimate of $292.19 million by 8%. This is a 13% increase over sales of $280.51 million in the same period last year.

"GoPro had an outstanding third quarter with strong revenue, earnings, margin, and cash flow growth that have led us to raise our margin and profitability outlook for the year," said Nicholas Woodman, GoPro's founder and CEO.

"Strong demand, effectively managed supply chain and channel inventory combined with a successful new product launch to yield our highest gross margins since 2015," Woodman stated.

GoPro has a 52-week high of $13.79 and a 52-week low of $5.92.