Shares of GoPro Inc. (GPRO) were surging over 11% in after-hours trading on Thursday following better-than-expected earnings results from the action-camera maker.
GoPro said that this quarter saw a 39% reduction in inventory from last quarter, and forward weeks of supply in their channel is lower 25%. Its HERO5 Black was the best-selling digital image camera in the U.S. in the second quarter, the company added.
Further, GoPro said the HERO5 Black was offered without discount on Amazon.com's (AMZN) Prime Day but still managed to garner a typical week's worth of sales in just that one day.
Regarding its much talked about Karma Drone, GoPro said that it was the number two selling drone brand in the U.S in the second quarter, but did not provide any specific sales numbers for the device. That said, GoPro CFO Brian McGee acknowledged on its conference call that the Karma was not a 10% contributor to the company's quarterly revenue and earnings growth.
On the call one theme rang louder than others, to visualize GoPro as an extension of the smartphone.
CEO Nick Woodman touted the company's new Quick Stories app, calling it a "game changer."
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