Categories Earnings, Technology

Gogo (NASDAQ: GOGO): Q4 2019 Earnings Snapshot

— Gogo (NASDAQ: GOGO) reported a fourth-quarter 2019 loss of $0.28 per share versus a loss of $0.49 per share expected.

— Total revenue rose by 2% to $221.3 million versus $207.23 million expected.

Earnings Update by AlphaStreet

— Service revenue from Commercial Aviation – North America fell by 4% on the deinstallation of ATG equipment on American Airlines aircraft. However, equipment revenue plunged by 16% due to the shift in mix from airline-directed to turnkey installations.

— Service revenue from Commercial Aviation – Rest of World increased by 20% on higher aircraft online while equipment revenue dropped by 25% due to a shift in mix from airline-directed to turnkey installations.

— Service revenue in Business Aviation grew by 14% on higher ATG units online and average monthly service revenue per ATG unit online while equipment revenue rose by 22% on continuing strong demand for Avance L5 and L3 systems.

— Qatar Airways selected Gogo’s 2Ku solution for high-speed inflight connectivity and live TV on 70 Boeing and Airbus aircraft, with service expected to begin in 2020.

— The company is not providing 2020 financial guidance given the uncertain impact of the quickly evolving Covid-19 or coronavirus pandemic will have on its business.

— Gogo is closely tracking the impact of the virus on global travel and its airline partners specifically.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

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