Shares of GoPro Inc. GPRO, +4.23% are up 4.7% in Thursday afternoon trading after the maker of action cameras disclosed an updated subscriber count. GoPro announced Thursday that it saw “record-breaking sales” during the period from Black Friday to Cyber Monday, which helped the company bring its subscriber count above 670,000.
The company had disclosed a subscriber count of 501,000 on Nov. 5, in conjunction with its third-quarter earnings report. Chief Executive Nick Woodman said in a Thursday release that the company is on track to close out the year “with well over 700,000 subscribers,” who pay for perks such as unlimited cloud storage and discounts on GoPro accessories. “We are confident about our ability to exit 2020 with low channel inventory and a promising outlook for 2021,” Woodman continued. GoPro shares have gained 88% so far this year as the S&P 500 SPX, -0.06% has risen 14%.