GoPro, Inc. (NASDAQ: GPRO) reported robust Black Friday and Cyber Monday sales. On available data, the company reported year-over-year sell through growth of 30% in U.S. retail partners as well as 20% on data available from European retail partners on Black Friday week. The company reported a 120% year-over-year growth in camera unit sales during the Black Friday & Cyber Monday period where the Hero8 Black sold at record levels that amounted to over 90% of total sales.
“We planned for a big Black Friday and Cyber Monday, and according to the sell-through data from our large U.S. and European retail partners as well as our results on GoPro.com, we crushed it,” said Nick Woodman, founder and CEO of GoPro. “We’re very happy with how each of our products are selling-through so far this holiday. We believe the surge in demand we’re seeing positions us well for full year profitability in 2019 and continued revenue and earnings growth in 2020.”
Back in October, the company released two new cameras, the Hero8 Black and the Max as well as a few new app features. Sales of the Hero8 Black beat all expectations, including initial sales from its predecessor the Hero 7 Black.
“Both products appear to be unquestionable hits with consumers and we’re optimistic about their impact on our business going forward,” Woodman said in the company’s earnings report. Woodman claimed that the cameras yielded “the highest positive social sentiment metrics of any new GoPro.”
Share value of the company was up over 5% this morning during pre-market trading.