Gogo (NASDAQ:GOGO) posted its quarterly earnings data on Thursday. The technology company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.57) by $0.29, Briefing.com reports. The firm had revenue of $201.18 million during the quarter, compared to analyst estimates of $206.07 million. Gogo’s revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.47) earnings per share.
Shares of NASDAQ GOGO traded up $0.02 during mid-day trading on Friday, hitting $6.50. 2,653,900 shares of the company were exchanged, compared to its average volume of 1,622,084. The firm has a market cap of $570.68 million, a price-to-earnings ratio of -3.55 and a beta of 1.05. The stock has a 50 day simple moving average of $5.99 and a 200-day simple moving average of $5.03. Gogo has a 1-year low of $2.64 and a 1-year high of $7.23.
In other Gogo news, Director Charles C. Townsend purchased 100,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $4.43 per share, with a total value of $443,000.00. Following the purchase, the director now owns 109,844 shares in the company, valued at $486,608.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles C. Townsend purchased 45,200 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was acquired at an average cost of $3.99 per share, for a total transaction of $180,348.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 265,851 shares of company stock valued at $1,101,013. 41.50% of the stock is currently owned by company insiders.
Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).
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