How GoPro, Suncor, and 3 Other Companies Performed During Their Latest Quarters

GoPro Revenue Declines

Traders are bidding up GoPro Inc (NASDAQ:GPRO) this morning to the tune of 5% despite the company reporting a second quarter loss of $0.52 per share on sales of $220.76 million. Although revenue fell by 47.4% year-over-year, the top-line number was still 20% higher than the first quarter figure, and management maintained its full year sales guidance of $1.35 billion-to-$1.50 billion. The company’s average unit selling price also rose by 14% year-over-year. Given the low expectations and GoPro’s beaten-up stock, it’s not surprising that GoPro shares are higher this morning on only mildly positive results. The number of funds in our system with holdings in GoPro Inc (NASDAQ:GPRO) fell by two quarter-over-quarter to 16 as of the end of March.

Thermo Fisher Results Ahead of Estimates

Thermo Fisher Scientific Inc. (NYSE:TMO) earned $2.03 per share on sales of $4.54 billion for its second quarter, beating both the top- and bottom-line estimates of $2.01 per share and $4.50 billion, respectively. Sales rose by 6.3% year-over-year as demand was strong in emerging markets such as China, South Korea, and India. Guidance was a little mixed, with management raising its adjusted 2016 EPS outlook to $8.07-to-$8.20 from the previous $8.05-to-$8.19 range, but lowering its 2016 revenue expectations to $17.84 billion-to-$18.00 billion from the previous range of $17.86 billion-to-$18.04 billion. 50 funds that we monitor were long Thermo Fisher Scientific Inc. (NYSE:TMO) at the end of March, down by three funds from the end of December.

Solid Quarter for AstraZeneca 

AstraZeneca plc (ADR) (NYSE:AZN) shares are 6% in the green this morning after the drug company reported net income of $0.83 per share on revenue of $5.60 billion for the second quarter, beating estimates by $0.07 per share and $40 million respectively. Guidance was relatively unchanged, with management continuing to expect revenue and core EPS for 2016 to decline by low-to-mid single-digit percentages in terms of CER. Of the 766 funds that we track, 18 funds had long positions worth $393.8 million in AstraZeneca plc (ADR) (NYSE:AZN) on March 31, compared to 20 funds with $381.72 million in positions on December 31.

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