GoPro, the wildly popular action camera company, announced their first quarter earnings on Tuesday. Despite beating the street on their revenue and profit, the company traded down 4% in after hours trading. TechCrunch reported that the reason for that could have been the fact that GoPro chose not to provide guidance for the current quarter, which to some is an indication that they are already expecting a down quarter.
GoPro CEO Nicholas Woodman spoke to the fact that GoPro is trying to compliment their core action camera business with other software and apps that will drive engagement and usage of the pocket sized devices.
To that end the company also announced the acquisition of Kolor.
Many companies are using GoPro cameras and drones to film things like real estate for sale and fishing and hunting locations. Kolor offers a solution for capturing spherical content.
“We are excited to welcome Kolor to GoPro,” GoPro CEO Nicholas Woodman said in a statement. “GoPro’s capture devices and Kolor’s software will combine to deliver exciting and highly accessible solutions for capturing, creating and sharing spherical content.”
GoPro is investing in spherical video to add a more immersive experience for GoPro users at big events like NFL games, and live concerts.
“Kolor’s mission is to enable the ultimate visual experience — to transport an audience to another time and space,” Kolor CEO Alexandre Jenny said in a statement. “When the best spherical media software is combined with the world’s most versatile capture devices, our imagination become our only limitation. We’re excited to see what the world captures and shares with GoPro and Kolor.”