Gogo Stock Tumbles After Q2 Earnings - What's Going On?
Portfolio Pulse from Anusuya Lahiri
Gogo Inc's shares fell in premarket trading after reporting mixed Q2 results and a cut in annual revenue outlook. The company reported a 6% YoY revenue growth to $103.2 million, slightly missing the consensus of $103.25 million. Adjusted EBITDA grew by 7% YoY to $44.1 million and EPS of $0.67 beat the consensus of $0.13. The company cut its FY23 revenue outlook to $410 million - $420 million from the previous $440 million - $455 million.
August 07, 2023 | 12:37 pm
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Gogo Inc reported mixed Q2 results and cut its annual revenue outlook, leading to a drop in its share price.
Gogo Inc's shares fell due to mixed Q2 results and a cut in its annual revenue outlook. This indicates that the company's financial performance was not as strong as expected, which could negatively impact investor sentiment and lead to a decrease in the company's share price.
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