Why Gogo Stock Plunged Today
Shares of Gogo (NASDAQ: GOGO) were down 17.9% as of 2:30 p.m. ET on Monday, according to data provided by S&P Global Market Intelligence, after the in-flight broadband connectivity specialist announced solid second-quarter 2023 results, but also lowered its full-year and longer-term guidance.
Quarterly revenue climbed 6% year over year to $103.2 million (roughly in line with analysts' expectations), including an 8% increase in service revenue to $79.1 million, and a 2% decline in equipment revenue, to $24.2 million.
On the bottom line, that translated to net income of $89.8 million, or $0.67 per share -- though that included a $0.48-per-share tax benefit during the quarter. Adjusted for that item, Gogo's net income was $0.19 per share, above Wall Street's estimates of $0.14.
Source Fool.com
Gogo Inc. Stock
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the Gogo Inc. stock is not clear.
Based on the current price of 3.76 € the target price of 14 € shows a potential of 272.34% for Gogo Inc. which would more than double the current price.
