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GoPro Inc. said its cutting more than 20 percent of its global workforce and putting an end to its drone business after a disappointing fourth quarter.
The company said it now expects sales of about $340 million, well short of its own previous projection of as much as $480 million and the average analyst estimate of $472 million. Revenue took an $80 million hit due to discounting for its Karma drones, as well as its Hero line of cameras, over the holi…
Read the full article at: https://www.bloomberg.com/news/articles/2018-01-08/gopro-gives-4th-quarter-sales-forecast-that-misses-estimates