Gogo, Inc. revisited in light of Q2 earnings and SmartSky's closing. Gogo's service business continues to grow, demographic trends favor private jet ownership. Maintaining strong buy rating with price target of $13.10, downside risk from Starlink mitigated by competitor's closure.
While the top- and bottom-line numbers for Gogo (GOGO) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Gogo (GOGO) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.20 per share a year ago.
The accelerated pace of 5G deployment should help the Zacks Wireless National industry thrive despite short-term headwinds and raw material price volatility. TMUS, T and GOGO are well poised to make the most of the current scenario.