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Nick Woodman, founder and chief executive officer of GoPro Inc., center, stands for a photograph with a GoPro Hero 3+ camera in his mouth before ringing the opening bell for the release of the company's IPO at the Nasdaq MarketSite in New York on June 26, 2014.Victor J. Blue/Bloomberg

GoPro Inc., the maker of wearable cameras used by surfers and sports enthusiasts, reported fourth-quarter profit and sales that beat analysts' estimates, helped by demand for its pricier new model during the holidays.

Earnings per share totaled 99 cents, the San Mateo, Calif.-based company said in a statement Thursday. Analysts projected 70 cents, the average of estimates compiled by Bloomberg.

Before the holidays GoPro introduced a high-end version of the Hero4 camera, which costs $500. Before that model was introduced in September, its most expensive product cost $400. The company has also been working to make money from advertising and partnerships related to videos uploaded from its cameras to YouTube and deviced such as Microsoft Corp.'s Xbox.

Sales in the quarter surged 75 per cent to $633.9-million, exceeding the company's forecast of $550-million to $580-million. Analysts projected $581.9-million, on average.

GoPro shares were halted in trading after the close. They closed up 4.8 per cent to $54.37. The stock has more than doubled since going public in June at $24.

The stock has tumbled in recent weeks on concerns about overseas growth and saturation in the market for action cameras. Investors are also scrutinizing whether GoPro employees will drive the price down by selling their shares, when a regulatory lockup on sales of almost half the outstanding shares lifts on Feb. 17, said Charlie Anderson, an analyst at Dougherty & Co.

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