10:24 AM EDT, 08/07/2024 (MT Newswires) -- Gogo ( GOGO ) shares were up more than 6% in recent trading Wednesday even after the company posted lower Q2 results and reduced its 2024 guidance for revenue.

The company reported Q2 net income of $0.01 per diluted share, down from $0.67 a year earlier.

Analysts polled by Capital IQ expected $0.07.

Revenue for the quarter ended June 30 was $102.1 million, down from $103.2 million a year earlier.

Analysts surveyed by Capital IQ expected $99.8 million.

For 2024, the in-flight connectivity company reduced its revenue outlook to $400 million to $410 million from $410 million to $425 million. Analysts polled by Capital IQ are looking for $418.2 million.

Price: 8.60, Change: +0.56, Percent Change: +6.97