{"id":65269,"date":"2018-05-07T23:43:51","date_gmt":"2018-05-07T15:43:51","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/gogo-q1-revenue-flies-to-232-business-aviation-hits-record-high\/"},"modified":"2018-05-07T23:43:51","modified_gmt":"2018-05-07T15:43:51","slug":"gogo-q1-revenue-flies-to-232-business-aviation-hits-record-high","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/gogo-q1-revenue-flies-to-232-business-aviation-hits-record-high\/","title":{"rendered":"Gogo Q1 Revenue Flies to $232, Business Aviation Hits Record High"},"content":{"rendered":"<\/p>\n<p><strong>Gogo<\/strong>, a global provider of broadband connectivity products and services for aviation, has announced its financial results for the first quarter ended&nbsp;March 31. The results reflect the adoption of the new revenue recognition standard, ASC 606, and the transition of one of its airline partners to the airline-directed model, which resulted in the recognition of&nbsp;$45.4 million&nbsp;of incremental equipment revenue and&nbsp;$19.3 million&nbsp;of incremental net income.<\/p>\n<p>Consolidated revenue increased to&nbsp;$231.8 million, up 40 percent from 2017. Service revenue increased to&nbsp;$150.7 million, up 3 percent, and equipment revenue increased to&nbsp;$81.1 million, up 329 percent. Excluding the&nbsp;$45.4 million&nbsp;accounting impact of incremental equipment revenue, consolidated revenue increased to&nbsp;$186.4 million, up 13 percent, and equipment revenue increased to&nbsp;$35.7 million, up 89 percent.<\/p>\n<p>Net loss decreased to&nbsp;$27.4 million, down 34 percent, primarily due to the&nbsp;$19.3 million&nbsp;accounting impact of incremental net income. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), which excludes the accounting impact of the incremental net income, increased to&nbsp;$11.9 million, up 11 percent from 2017. Capital expenditures (capex) decreased to&nbsp;$62.7 million&nbsp;from&nbsp;$71.6 million&nbsp;in the 2017 period and cash capex&nbsp;decreased to&nbsp;$56.8 million&nbsp;from&nbsp;$58.7 million&nbsp;in 2017.<\/p>\n<p>In business aviation, total revenue increased to a record&nbsp;$68.8 million, up 22 percent. Service revenue increased to&nbsp;$47.7 million, up 19 percent. Equipment revenue increased to&nbsp;$21.2 million, up 30 percent. Segment profit increased to&nbsp;$32.3 million, up 24 percent, with segment profit margin expanding to a record 47 percent for the quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gogo, a global provider of broadband connectivity products and services for aviation, has announced its financial results for the first quarter ended&nbsp;March 31. The results reflect the adoption of the new revenue recognition standard, ASC 606, and the transition of one of its airline partners to the airline-directed model, which resulted in the recognition of&nbsp;$45.4 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":57914,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-65269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/65269"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=65269"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/65269\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/57914"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=65269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=65269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=65269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}