Gogo Inc (GOGO) Releases Earnings Results, Beats Expectations By $0.09 EPS

Gogo Inc (GOGO) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $-0.31 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $-0.40. The company posted revenue of $147.50 million in the period, compared to analysts expectations of $141.46 million. The company’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.32 EPS.

Many Wall Street Analysts have commented on Gogo Inc. Shares were Reiterated by Dougherty & Company on Jun 15, 2016 to “Buy” and Lowered the Price Target to $ 14 from a previous price target of $17 .Company shares were Reiterated by Dougherty & Company on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 17 from a previous price target of $16 .

Gogo Inc opened for trading at $8.41 and hit $8.57 on the upside on Tusday, eventually ending the session at $8.5, with a gain of 0.59% or 0.05 points. The heightened volatility saw the trading volume jump to 14,90,623 shares. Company has a market cap of $731 M.

In a different news, on Nov 25, 2015, Arbela Takhsh (SVP, Quality Assurance) sold 500 shares at $18.00 per share price. According to the SEC, on Nov 18, 2015, Charles C Townsend (director) purchased 300 shares at $15.40 per share price. On Apr 20, 2015, John Wade (EVP and GM, Bus. Aviation) sold 10,000 shares at $22.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Gogo Inc. is a holding company. The Company is an aero communications service provider. The Company operates through three segments: Commercial Aviation North America (CA-NA) Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA). Its services include global network solutions which include ATG/ATG-4 Ku/2Ku Global Xpress and Iridium and SwiftBroadband (SBB); equipment and equipment related services which include a package of airborne equipment for its ATG/ATG-4 and satellite services; passenger services which include passenger connectivity passenger entertainment and portal content; airline/owner/operator services which include account support network monitoring and management services passenger support services and portal design development and hosting and operations-oriented communications services which include providing commercial airlines and business aircraft owners and operators the access to use applications requiring connectivity.

Gogo Inc

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