Why Gogo Shares Jumped 20% Today
Shares of in-flight broadband specialist Gogo (NASDAQ: GOGO) rose as much as 20.5% on Thursday following the release of disappointing second-quarter results and optimistic guidance for the company's full-year sales and profits.
In the second quarter, Gogo reported total revenues of $174 million and an adjusted net loss of $1.04 per diluted share. Your average Wall Street analyst had been looking for a smaller loss near $0.57 per share and top-line sales in the neighborhood of $200 million.
But all was forgiven because Gogo's management called the results "solid" and raised their full-year earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance from $97 million to $110 million. The revenue target for fiscal year 2019 was left unchanged at $825 million.
Quelle Fool.com
