Expectations were incredibly low for GoPro this go around and yet somehow GoPro managed to out do even analysts worst fears. The company’s stock trading has been halted as it missed revenue expectations by nearly $75 million.

Prior to the actual release of this quarter’s earnings results, investors had been focused on one thing — projected sales for Q4. Today’s posted revenue of $240.56 million and a loss of $0.60 per share is so bad however that it’s likely to change the whole conversation. In advance of today’s release, the consensus among Wall Street analysts was that shareholders could expect a loss of $0.36 per share on revenues of $314.06 million.

Even going into today, shareholders gave up on the promise of a knockout third quarter earnings report from the company back in early October. Over the course of a pessimistic 21 trading days, the stock tumbled nearly 30 percent, giving up the entirety of its gains from a relatively positive streak that stretched all the way back to May.

This news comes at a time when GoPro has been banking heavily on its newly released a new flagship camera and drone ready to make a splash this holiday season, questions centered around how well the new products could be expected to perform. Because both devices didn’t go on sale until October, neither are going to be accounted for in the traditional Q3 metrics the GoPro is reporting.

We will be listening in to the GoPro earnings call slated for 2pm PST to gather more details on this news and the extent to which the company is still counting on holiday sales to get core financials back on track.

 

 

Featured Image: Bloomberg / Contributor/Getty Images