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Action camera maker GoPro reports bigger loss as costs double

01
Aug
2014

(Reuters) – GoPro Inc, which makes wearable cameras used by surfers, skydivers and other action junkies to post their exploits online, reported a bigger quarterly loss as costs nearly doubled. GoPro shares fell 11 pct to $42.70 in extended trading after its first financial results since its initial public offering in June. The net loss attributable to GoPro stockholders grew to $19.8 million, or 24 cents per share, in the second quarter from $5 million, or 6 cents. Excluding items, GoPro earned 8 cents per share and the company said it expected a seasonally stronger second half.

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