GoPro has announced its fourth quarter (Q4) financials on Wednesday. Woes over frustrating financial performances beating expectations have been surpassed with revelation of a certain fact. The company has incurred huge losses during the Q4: 2015 from investment in its own shares.

GoPro has acquired approximately 1.5 million shares of Class A capital stock at an average price per share of approximately $23.05. The wearable camera maker has invested around $35.6 million till the end of 2015 in purchasing own shares, reports Business Insider quoting GoPro statement on business earnings.

The action camera pioneer has accounted loss of 8 cents per share off beating analysts predicting 2 cents earning per share. GoPro has posted sales revenue of $437 million compared to $634 million during previous year, reports CNBC news.

Analysts have expected GoPro to remain in a break even during the Q4 with sales revenue of $496 million. However, sales revenue has touched the line exactly with company's previous prediction for $435 million.

The slumping expectations over the sale of GoPro devices have led its stock to witness plunging more than 40% in 2015. Last month, GoPro has been reported to forecast slower than expected sell-through at retailers during the Q4.

The imaging gear manufacturer has posted revenue of $1.6 billion through out 2015, which is 16% up from the previous year. Earning in full year has fallen 42% to 76 cents per share compared to 99 cents during a year ago.

Following the poor earning scenario in Q4 of 2015, GoPro has taken defensive approaches for the on going year. The approaches include- shun selling three of its cheapest cameras in April and releasing Hero5 later this year with connected and convenient focus. Unveiling new GoPro desktop software in March while drone as well as virtual reality camera by summer is among additional steps taken, reports CNet quoting CNet.

However, GoPro's all revelations have been over shadowed with the disclosures on acquiring own stocks. Value of the purchased shares has been estimated to $16 million, considering closing share price of $10.71 on Wednesday as the base price.

In other words, the company has lost around $19 million through buying back its own stocks. But the company has allocated fund for another $264.4 million under the plan for buying back own stocks.

GoPro has been reported to repurchase 1.5 million shares of its own with a value of $35 million till the end of 2015. Thus the wearable camera maker has counted a loss of $19 million. But the fact hasn't scared the imaging device manufacturer. Though it has adopted defensive approaches to boost up sales revenues, but allocation of $264.4 million additional fund for repurchasing stocks doesn't appear to be a defensive stunt by any mean.