October 2, 2019 / 10:00 PM / 18 days ago

GoPro cuts second-half profit outlook citing Hero8 production delay

Oct 2 (Reuters) - GoPro Inc cut its profit outlook for the second half of the year citing a delay in production of its latest Hero8 Black cameras, sending its shares down 18% in extended trading.

The company, which launched two new cameras including a ramped up version of its "HERO" line on Tuesday, said it would ship the cameras in the fourth quarter instead of the third quarter as planned earlier.

The company now expects to post an adjusted profit of between 33 cents and 39 cents per share for the second half of the year, compared with its prior forecast of 37 cents to 49 cents. (bit.ly/2n7CaIo) (Reporting by Nivedita Balu in Bengaluru; Editing by Shailesh Kuber)

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