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Compared to Estimates, Gogo (GOGO) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, Gogo (GOGO - Free Report) reported revenue of $104.32 million, up 5.8% over the same period last year. EPS came in at $0.16, compared to $0.15 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $96.62 million, representing a surprise of +7.98%. The company delivered an EPS surprise of +166.67%, with the consensus EPS estimate being $0.06.
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.
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 - Total ATG: 7,136 versus the five-analyst average estimate of 7,268.
Average monthly connectivity service revenue per aircraft online - ATG: $3,458 compared to the $3,429.29 average estimate based on five analysts.
Average monthly connectivity service revenue per aircraft online - Narrowband satellite: $292 compared to the $311.88 average estimate based on five analysts.
Aircraft Online - Narrowband satellite: 4,285 versus the five-analyst average estimate of 4,250.
Units Sold - Business Aviation - Narrowband satellite: 41 compared to the 38 average estimate based on four analysts.
Units Sold - Business Aviation - ATG: 258 compared to the 203 average estimate based on four analysts.
Average equipment revenue per unit sold - Narrowband satellite: $41 compared to the $46.98 average estimate based on four analysts.
Average equipment revenue per unit sold - ATG: $75 versus the four-analyst average estimate of $61.33.
Revenue- Service revenue: $81.67 million compared to the $80.16 million average estimate based on seven analysts. The reported number represents a change of +4% year over year.
Revenue- Equipment revenue: $22.65 million versus the seven-analyst average estimate of $16.44 million. The reported number represents a year-over-year change of +12.7%.
Shares of Gogo have returned +12.6% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, Gogo (GOGO) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, Gogo (GOGO - Free Report) reported revenue of $104.32 million, up 5.8% over the same period last year. EPS came in at $0.16, compared to $0.15 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $96.62 million, representing a surprise of +7.98%. The company delivered an EPS surprise of +166.67%, with the consensus EPS estimate being $0.06.
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.
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 - Total ATG: 7,136 versus the five-analyst average estimate of 7,268.
- Average monthly connectivity service revenue per aircraft online - ATG: $3,458 compared to the $3,429.29 average estimate based on five analysts.
- Average monthly connectivity service revenue per aircraft online - Narrowband satellite: $292 compared to the $311.88 average estimate based on five analysts.
- Aircraft Online - Narrowband satellite: 4,285 versus the five-analyst average estimate of 4,250.
- Units Sold - Business Aviation - Narrowband satellite: 41 compared to the 38 average estimate based on four analysts.
- Units Sold - Business Aviation - ATG: 258 compared to the 203 average estimate based on four analysts.
- Average equipment revenue per unit sold - Narrowband satellite: $41 compared to the $46.98 average estimate based on four analysts.
- Average equipment revenue per unit sold - ATG: $75 versus the four-analyst average estimate of $61.33.
- Revenue- Service revenue: $81.67 million compared to the $80.16 million average estimate based on seven analysts. The reported number represents a change of +4% year over year.
- Revenue- Equipment revenue: $22.65 million versus the seven-analyst average estimate of $16.44 million. The reported number represents a year-over-year change of +12.7%.
View all Key Company Metrics for Gogo here>>>Shares of Gogo have returned +12.6% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.