Investing.com -- Shares in GoPro Inc (NASDAQ:GPRO) soared nearly 9% in after-hour trading after the California-based manufacturer of high-definition camcorders posted the second-highest revenue quarter in company history.
Go Pro's revenues for the first quarter skyrocketed 54% on a year-over-year basis to $363 million, up from $235.7 million during the same period in 2014. Go Pro's operating income for the quarter also increased 34.5% to 22.3 million, compared with $16.6 million in the first quarter of last year.
"We are making investments in talent, technology, software, and innovative new products that will fuel growth and strengthen GoPro's ecosystem," GoPro founder and CEO Nicholas Woodman said in a statement.
Also on Tuesday, Go Pro announced its acquisition of Kolor, a French-based leader in virtual reality and spherical media solutions.
"Kolor's mission is to enable the ultimate visual experience -- to transport an audience to another time and space. Joining GoPro makes this possible," 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."
Go Pro also had a gross margin of 45.1% for the first quarter, in comparison with one of 40.9% at the same point last year. The company's net income attributable to common stockholders of $16.8 million or $0.11 per diluted share increased 98.2%, compared to $8.5 million or $0.08 per diluted share in the first quarter of 2014.
GoPro's five capture device models accounted for all five of the top five products in the U.S. in the combined digital camera and camcorder category on a unit basis, according to NPD.
Shares in GoPro gained 4.10 or 8.72% to 51.12 in after-hours trading.