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Gogo Inc. (GOGO) has reported a Q1 loss per share of $0.20, narrower than the loss of $4.77 per share in Q1 2013 and the $0.25 per share predicted by analysts for Q1 2014. Total revenue of $95.7 million was up from $70.8 million in Q1 2013 and beat analyst estimates of $94.03 million.
The company has reaffirmed full-year guidance of total revenue of $400 million to $422 million. The Street is at $413 million.
“We expect continued strong growth in revenue fueled by strong secular trends and passenger adoption of new services,” said President and CEO Michael Small. “We continue to add capacity by upgrading aircraft to ATG-4 technology and had 534 aircraft equipped with ATG-4 systems at the end of March. We expect to see significant capacity increases with the introduction of our GTO and 2Ku airborne antennas, both of which are capable of delivering industry leading speeds of 70 mbps to the aircraft initially, and up to 100 mbps when spot beam Ku satellites are launched.”
Shares of GOGO are up $0.57, or 4.78%, at $12.50 in pre-market trading with a 52-week range of $9.71 – $35.77.