By Dean Seal
Shares of Gogo climbed after the company said first-quarter revenue doubled and that full-year revenue is on track to blow past analyst estimates.
The stock was up 14% at $8.65 in premarket trading. Shares are on track to open in positive territory year-to-date.
The aviation technology company said revenue more than doubled to $230.3 million in the first quarter, topping analyst estimates by more than $15 million, according to FactSet.
Service revenue rocketed up 143% to $198.6 million while equipment revenue climbed 40% to $31.7 million.
Gogo backed its guidance for $870 million to $910 million in revenue on the full year. Analysts polled by Factset have been projecting $799.2 million.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 09, 2025 08:31 ET (12:31 GMT)
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