Gogo Expects FY23 Revenue $390M-$400M (Prior $410M-$420M) Vs $412.59M Est, Reiterated Revenue CAGR 15%-17% from 2022 through 2027
Portfolio Pulse from Benzinga Newsdesk
Gogo has revised its FY23 revenue guidance to $390M-$400M, down from the previous $410M-$420M. The company attributes this to lower equipment revenue. However, Gogo reiterated its long-term financial targets, including a revenue CAGR of 15%-17% from 2022 through 2027. The company's financial guidance includes the impact of the Federal Communications Commission's Secure and Trusted Communications Networks Reimbursement Program.
November 07, 2023 | 12:15 pm
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Gogo's revised FY23 revenue guidance is lower than previously estimated, which could negatively impact its stock price in the short term. However, the company's reiteration of its long-term financial targets may provide some stability.
Gogo's revised FY23 revenue guidance is lower than previously estimated, which could lead to a negative investor sentiment and a potential drop in the stock price. However, the company's reiteration of its long-term financial targets may provide some stability and confidence to investors, potentially mitigating some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100