- Gogo (NASDAQ:GOGO) was up as much as 2.7% in early going but has sacrificed gains, now -1.6% after its Q1 earnings report beat expectations on top and bottom lines following some recent customer wins with Delta and International Airlines Group.
- Segment profits in North American commercial aviation and business aviation combined rose 29% to $34M. EBITDA of $14.5M was up 76% and beat an expected $13.6M.
- Service revenue was $118.7M (up 24.4%); and equipment revenue was $23M (up 14.5%). Service revenue by segment: Commercial Aviation-North America, $83.4M (up 15.6%); Commercial Aviation-Rest of World, $4.6M (up 226%); Business Aviation, $30.7M (up 40.8%).
- In operations, aircraft equivalents during the period rose to 2,512 from a year-ago 2,155. Average monthly service revenue per aircraft equivalent fell to $11,137 from $11,163.
- Average revenue per session rose to $13.05 from $11.73, and connectivity take rate dipped to 6.5% from a year-ago 7.2%.
- The company affirmed full-year guidance for total revenue of $575M-$595M and EBITDA of $55M-$65M, both in line with expectations.
- Press Release