Global Eagle (ENT) had a good quarter for revenues. Bodes well for GOGO on Monday!
ENT Revenues at $98M vs. $84M consensus estimates for ENT. This bodes well for GOGO on Monday's earnings report!
ENT also guided up. And they noted "an increase in passenger usage..."
In other words, in-flight entertainment niche is very healthy.
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LOS ANGELES, Aug. 7, 2014 (GLOBE NEWSWIRE) -- Global Eagle Entertainment Inc. (ENT) ("Global Eagle", "GEE" or the "Company"), the worldwide leading provider of content, connectivity and digital media solutions to airlines, today reported financial results for the second quarter ended June 30, 2014.
Consolidated revenue for Q2 2014 reached $98.1 million with Adjusted EBITDA* growing to $6.5 million. Both the Content and Connectivity segments experienced significant sequential revenue growth in Q2 2014 of 13% and 19%, respectively, as compared to Q1 2014. Content revenue growth was due to the onboarding of new customers, coupled with key contract renewals and extensions. Connectivity revenue grew through continued customer installations and an increase in passenger usage. Q2 2014 Adjusted EBITDA* increased to $6.5 million, up $1.4 million when compared to Q1 2014.