Gogo Inc. (GOGO) shares surged 14.9% to close at $14.40 in the latest trading session, significantly higher than its 2% gain over the past month. This increase coincided with the successful delivery of the first 5G air-to-ground (ATG) connectivity using Gogo’s 5G chip and solid trading volume.
The implementation of Gogo’s 5G ATG system will allow high-speed broadband for over 300 pre-provisioned aircraft, enhancing services like video conferencing and streaming. Gogo has received FAA approval for new manufacturing capabilities and invested in a network of 170 5G towers in addition to other infrastructure developments.
Expected upcoming quarterly earnings are projected at $0.12 per share, representing a 20% increase year-over-year, with revenues anticipated at $220 million, a 115.6% rise from last year. Gogo currently holds a Zacks Rank of #2 (Buy).
