GoPro makes high-definition cameras (Source: Getty)
The camera-maker had a great start to the year, but its results have failed to impress investors.
During the first three months of 2015, GoPro's profits went up to $16.8m (£10.95m), or 11 cents per share. This is almost double the value posted in the first quarter of 2014, and exceeds analyst expectations of 10 cents per share.
Revenue also increased by 54 per cent to $363.1m, which is the second highest figure in the company's history.
Why it's interesting
The California-based company said its success was the result of higher international sales, which accounted for more than half of net revenues.
But the new wasn't all positive – the company's mobile app was downloaded 2.6m times during the quarter, down from 2.8m in the previous quarter.
This decline may have contributed to investors' negative reaction to the news. With share price going down by four per cent to $45.30 in after-hours trading.
Overall, the company has suffered a severe decline in share price over the last six months, but things have looked slightly better since March.
Moving forward, the company intends to expand consumer interest in its products by investing in mobile applications.
What GoPro said
Nicholas Woodman, founder and chief executive of the company, said:
We kicked off 2015 by delivering the second highest revenue quarter in GoPro's history. We are making investments in talent, technology, software, and innovative new products that will fuel growth and strengthen GoPro's ecosystem.
GoPro is regaining some momentum since its sharp six-month decline in share price, but today's reaction indicates it still has some way to go. It will be interesting to see what the company chooses to invest in over the coming months.