Morgan Stanley: GoPro Setting A High Bar For Q4

GoPro’s third-quarter report was mostly in-line with management’s pre-announcement, but its updated full-year guidance implies a “high bar” is set for the fourth quarter, Woodring said in a Friday note. The math behind the 2019 guidance implies that 46% of total revenue will come in the holiday season quarter, which is the highest fourth-quarter mix in company history, the analyst said. First, the holiday season is six days shorter year-over-year, and forecasting consumer demand is never an easy task.