GoPro misses revenue forecast for holiday quarter

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(Reuters) – GoPro Inc (GPRO.O) missed its forecast for holiday-quarter revenue on Thursday as it struggles to drive demand for its flagship action cameras.

Revenue fell 38.1 percent to $334.8 million in the fourth quarter ended Dec. 31.

Net loss narrowed to $55.8 million or 41 cents per share from $115.7 million or 82 cents per share, a year earlier.

The company in January pre-announced its fourth quarter results and estimated revenue of $340 million. It also announced plans to exit its Karma drone business.

Reporting by Laharee Chatterjee in Bengaluru