Struggling wearable camera maker GoPro on Wednesday trimmed its guidance and announced it would cut its workforce by about 7 percent.
GoPro expects fourth-quarter and full-year 2015 sales of $435 million and $1.6 billion, respectively. Analysts had projected fourth-quarter revenue of $512 million, according to a consensus estimate from Thomson Reuters.
"Fourth-quarter revenue reflects lower-than-anticipated sales of its capture devices due to slower-than-expected sell-through at retailers, particularly in the first half of the quarter," the company said in a statement.
GoPro shares plunged as much as 28 percent in after-hours trading after a halt. Shares of Ambarella, a key GoPro producer, also fell by about 10 percent in extended trading.