Gogo posts record sales in second quarter
BROOMFIELD — Gogo Inc. (Nasdaq: GOGO), a provider of broadband connectivity services for the business aviation market that moved its headquarters to Broomfield from Chicago last year, posted record sales in the second quarter and topped Wall Street expectations.
Gogo recorded sales of $97.8 million in the second quarter, a quarterly record that represents an increase of 19% over the same period last year. The Zacks Consensus Estimate for revenue was $95.3 million.
Diluted earnings per share were 17 cents, beating the Zacks Consensus Estimate of 15 cents per share.
Gogo’s internet services are now in 6,654 aircraft, an increase of 10% compared to the second quarter of 2022 and 2% compared to the first quarter of this year.
“Customer excitement is growing as we prepare for the launch of Gogo 5G, which will provide a 5-10x bandwidth improvement for current Gogo customers,” said Oakleigh Thorne, chairman and CEO. “With the announcement of our global broadband initiative, we continue to leverage our AVANCE platform to provide an easy upgrade path for aircraft of all sizes to further boost performance and expand our addressable market.”
Gogo expects revenue to meet the high end of its previously guided range of $390 million to $400 million.
This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2022 BizWest Media LLC.
BROOMFIELD — Gogo Inc. (Nasdaq: GOGO), a provider of broadband connectivity services for the business aviation market that moved its headquarters to Broomfield from Chicago last year, posted record sales in the second quarter and topped Wall Street expectations.
Gogo recorded sales of $97.8 million in the second quarter, a quarterly record that represents an increase of 19% over the same period last year. The Zacks Consensus Estimate for revenue was $95.3 million.
Diluted earnings per share were 17 cents, beating the Zacks Consensus Estimate of 15 cents per share.
Gogo’s internet services are now in 6,654 aircraft, an increase of 10% compared…
Start your subscription to BizWest, The Business Journal of the Boulder Valley and Northern Colorado, TODAY!
Online access PLUS print versions of all Bizwest publications
One month subscription includes:
- 1-month online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-month subscription to BizWest & all of the publications in print version.
- 1-year access to daily email newsletter & breaking news alerts.
Online access for one year.
One month subscription includes:
- 1-month online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-year access to daily email newsletter & breaking news alerts.
Online and print versions of all Bizwest publications PLUS premium access to BizWest Datastore for one year.
One year subscription includes:
- 1-year online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-year subscription to BizWest & all of the publications in print version.
- 1-year premium online access to unlimited downloads from the BizWest Datastore!
- 1-year premium online access to the Breaking Ground website!
- 1-year access to daily email newsletter & breaking news alerts.
Premium access to the BreakingGround site plus online and print versions of all BizWest publications.
One year subscription includes:
- 1-year online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-year subscription to BizWest & all of the publications in print version.
- 1-year premium online access to the Breaking Ground website!
- 1-year access to daily email newsletter & breaking news alerts.
Premium access to the BreakingGround site plus online and print versions of all BizWest publications.
One month subscription includes:
- 1-year premium online access to the Breaking Ground website!
- 1-month online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-month subscription to BizWest & all of the publications in print version.
- 1-year access to daily email newsletter & breaking news alerts.