GOGO Stock Turns Sharply Higher on Lower Quarterly Loss

GOGO stock is having a solid day as the stock has been showing an uptrend today after Gogo Inc. (NASDAQ: GOGO) reported a lower than estimated loss for the first quarter.

GOGO Stock Turns Sharply Higher on Lower Quarterly Loss

The Chicago-based company posted a loss of 9 cents a share. On an adjusted basis, the company lost 7 cents a share, topping Zacks Investment Research’s estimate of a loss of 13 cents a share.

Revenue during the quarter grew 4% year-over-year to $73.9 million. Total ATG aircraft online (“AOL”) grew 3% year-over-year and 2% sequentially to 5,892

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GOGO projects full-year revenue in the range of $310 million – $325 million.

Gogo shares have risen roughly 14% since the beginning of the year. The stock has increased eightfold in the last 12 months.

At the time of writing, GOGO stock is up by 10.50% at $10.92%.

 

Jack Dawkins

Finance and Tech Contributor