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GoPro to Trim Lineup to Just 3 Cameras As Business Continues to Nosedive

GoPro just announced the financial results of its latest quarter, and things aren't looking very good for the flagging camera company. Investors were already bracing for the worst after GoPro slashed 7% of its workforce in January and announced a huge drop in camera sales.

Quarterly revenue has dropped ~31% from a year ago to $436.6 million, and the company lost $34.4 million in the quarter, GoPro says. In response, GoPro says it will be cutting down its camera lineup to offer just 3 main models starting in April 2016.