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Stock impact report

Gogo Announces Fourth Quarter and Full-Year 2018 Financial Results

Gogo Inc. (GOGO) 
Last gogo inc. earnings: 3/13 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: ir.gogoair.com/investor-overview
Company Research Source: PR Newswire
CHICAGO, Feb. 21, 2019 /PRNewswire/ -- Gogo (NASDAQ: GOGO), the leading global provider of broadband connectivity products and services for aviation, today announced its financial results for the quarter ended December 31, 2018.Fourth Quarter 2018 Consolidated Financial ResultsConsolidated revenue increased to $217.2 million.   Service revenue of $160 million declined 2% from Q4 2017, primarily related to the de-installations of American Airlines ATG aircraft, totaling 375 at the end of 2018, and the change in business terms associated with their transition to an airline-directed business model.  Hereinafter, we refer to these items as the "de-installations."  Equipment revenue increased to $57.2 million, up from $24 million in Q4 2017, primarily due to the post-adoption impact of ASC 606.Net loss of $59.7 million includes a $19.7 million loss on the extinguishment of debt. Adjusted EBITDA(1) decreased to $19.4 million, down 22% from Q4 2017, primarily related to the de-installations. Show less Read more
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