Gogo Inc. (GOGO) announced an increase in profits for its first quarter, surpassing previous Wall Street predictions. The company's earnings amounted to $30.49 million, or $0.23 per share, which shows growth compared to last year's first quarter earnings of $20.45 million, or $0.15 per share. The average expectation of analysts was that the company would earn around $0.06 per share, based on figures compiled by Thomson Reuters, although such estimates usually do not account for special items.
Reports showed a 5.8% rise in the company's revenue for the quarter, reaching $104.32 million, up from $98.60 million the previous year.
Below is a GAAP overview of Gogo Inc.'s earnings:
- Earnings for the first quarter: $30.49 million, an increase from last year's $20.45 million
- Earnings per share for the first quarter: $0.23, up from last year's $0.15
- Revenue for the first quarter: $104.32 million, a growth from last year's $98.60 million
Projected revenue for the full year is between $410 million and $425 million.
