Gogo posts mixed third-quarter results as full-year sales projection falls

BROOMFIELD — Gogo Inc. (Nasdaq: GOGO), a provider of broadband connectivity services for the business-aviation market, saw its bottom line improve year over year in the third quarter of 2023, but quarterly sales and full-year 2023 revenue projections trended downward.

The Broomfield-headquartered firm posted total revenue of $97.9 million, down 7% from the same period last year, while year-over-year net income grew 4% to $20.9 million in the most recent quarter. 

“We are in a two-year investment cycle launching Gogo 5G and Galileo (our global LEO satellite product) to deliver order-of-magnitude improvements in network speed and coverage, grow our addressable market, and…