Shares of in-flight internet provider Gogo Inc (NASDAQ: GOGO) surged 7.8% in pre-market trading on Monday after the company reported better-than-expected third quarter 2024 earnings results.
Gogo posted Q3 earnings per share of $0.08, beating Wall Street's expectations of $0.05 by a wide 60% margin. The company also exceeded revenue forecasts, generating sales of $100.5 million versus the $97.3 million analyst consensus estimate, marking a 2.6% increase from the prior-year period.
The robust quarterly performance and upside surprise sent Gogo's stock soaring ahead of the market open. Investors cheered the solid results as a sign that demand for in-flight connectivity services remains resilient amid a challenging economic backdrop.
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