Gogo (GOGO) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Gogo (GOGO) reported revenue of $103.22 million, up 5.5% over the same period last year. EPS came in at $0.20, compared to $0.17 in the year-ago quarter.
The reported revenue represents a surprise of -0.03% over the Zacks Consensus Estimate of $103.25 million. With the consensus EPS estimate being $0.13, the EPS surprise was +53.85%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 - ATG: 7064 versus 7196.62 estimated by six analysts on average.
Aircraft Online, Satellite: 4433 versus 4404.04 estimated by six analysts on average.
Average monthly service revenue per aircraft online - ATG: $3,371 versus the five-analyst average estimate of $3,446.50.
Average monthly service revenue per aircraft online - Satellite: $292 versus the five-analyst average estimate of $282.59.
Units Sold - Business Aviation - Satellite: 43 compared to the 44.21 average estimate based on three analysts.
Units Sold - Business Aviation - ATG: 277 versus 276.5 estimated by three analysts on average.
Average equipment revenue per unit sold - Satellite: $50 versus $59.42 estimated by three analysts on average.
Average Equipment revenue per unit sold - ATG: $73 versus the three-analyst average estimate of $71.33.
Service revenue: $79.06 million compared to the $80.61 million average estimate based on seven analysts.
Equipment revenue: $24.16 million versus the seven-analyst average estimate of $22.65 million.
View all Key Company Metrics for Gogo here>>>
Shares of Gogo have returned -8.5% over the past month versus the Zacks S&P 500 composite's +0.6% 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
