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Gogo (GOGO) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

For the quarter ended March 2023, Gogo (GOGO) reported revenue of $98.6 million, up 6.3% over the same period last year. EPS came in at $0.15, compared to $0.18 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $101.54 million, representing a surprise of -2.90%. The company delivered an EPS surprise of +15.38%, with the consensus EPS estimate being $0.13.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Gogo performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Aircraft online - ATG: 7046 versus the five-analyst average estimate of 7081.47.

  • Average monthly service revenue per aircraft online - ATG: $3,389 versus $3,412.07 estimated by four analysts on average.

  • Average monthly service revenue per aircraft online - Satellite: $304 versus $255.96 estimated by four analysts on average.

  • Aircraft Online, Satellite: 4458 compared to the 4465.63 average estimate based on four analysts.

  • Service revenue: $78.50 million versus $78.62 million estimated by eight analysts on average.

  • Equipment revenue: $20.10 million compared to the $23.05 million average estimate based on eight analysts.

View all Key Company Metrics for Gogo here>>>

Shares of Gogo have returned -8.2% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Gogo Inc. (GOGO) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research