Wall Street analysts expect Gogo (GOGO) to post quarterly earnings of $0.05 per share in its upcoming report, which indicates a year-over-year decline of 68.8%. Revenues are expected to be $214.48 million, up 105.6% from the year-ago quarter.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Gogo metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Revenue- Service revenue' to come in at $191.73 million. The estimate indicates a year-over-year change of +134.8%.
Analysts forecast 'Revenue- Equipment revenue' to reach $22.77 million. The estimate suggests a change of +0.5% year over year.
The average prediction of analysts places 'Aircraft Online - Narrowband satellite' at 4,111. The estimate compares to the year-ago value of 4,285.
According to the collective judgment of analysts, 'Aircraft online - Total ATG' should come in at 7,016. Compared to the current estimate, the company reported 7,136 in the same quarter of the previous year.
Analysts predict that the 'Average monthly connectivity service revenue per aircraft online - Narrowband satellite' will reach $302.73. The estimate is in contrast to the year-ago figure of $292.
The consensus among analysts is that 'Average monthly connectivity service revenue per aircraft online - ATG' will reach $3,575.58. The estimate compares to the year-ago value of $3,458.
Based on the collective assessment of analysts, 'Units Sold - Business Aviation - ATG' should arrive at 151. Compared to the current estimate, the company reported 258 in the same quarter of the previous year.
View all Key Company Metrics for Gogo here>>>
Shares of Gogo have experienced a change of -1.7% in the past month compared to the +11.3% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), GOGO is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Gogo Inc. (GOGO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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