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First-quarter earnings fuel GoPro climb

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First-quarter earnings fuel GoPro climb

Shares of GoPro jumped 13% in morning trading after the high-definition camera maker reported first quarter results topping Wall Street expectations. GoPro raked in $363 million in revenue for the first quarter, a 54% bump from the same time last year. Non-GAAP earnings hit 24 cents a share, beating estimates of 16 cents.GTY 461091508 A FIN USA NV

“We kicked off 2015 by delivering the second highest revenue quarter in GoPro’s history,” said Nicholas Woodman, GoPro founder and CEO, in a statement released Wednesday. “We are making investments in talent, technology, software, and innovative new products that will fuel growth and strengthen GoPro’s ecosystem.”

GoPro also confirmed its acquisition of virtual reality company Kolor. Financial terms of the deal were not disclosed. After approaching $94 — an all-time high — in October, share of GoPro have slowly dipped downward. However, the stock has rebounded since March, closing Tuesday trading above $51.