For the second quarter Gogo reported a loss of -22 cents share, beating the Capital IQ Consensus Estimate of -23 cents a share by 1 cent. Revenue grew 25.3% year-over-year to $99.5 million for the quarter. Analysts expected revenue of $99.4 million for the quarter.
Looking to the full year, Gogo said it expects adjusted EBITDA to be "toward the low end" of its previous range of $8 million to $18 million due to increased spending for STCs for international service.
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TheStreet Ratings team rates GOGO INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOGO INC (GOGO) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow and feeble growth in its earnings per share."