Gogo (NASDAQ: GOGO) reported Q2 EPS of ($0.22), $0.01 better than the analyst estimate of ($0.23). Revenue for the quarter came in at $99.5 million versus the consensus estimate of $99.4 million.

Gogo reaffirmed FY2014 guidance.

"We had another great quarter and reported strong growth in revenue and profitability for both CA-NA and BA segments," said Gogo's President and CEO, Michael Small. "Furthermore, we made solid progress in operationalizing our international business. We launched in-flight connectivity service on Japan Airlines, expanded our global satellite network footprint and continued to increase our satellite solutions STC portfolio," added Mr. Small.

Second Quarter 2014 Business Segment Financial Results

• Commercial Aviation - North America (CA-NA)
  • We ended the quarter with 2,058 aircraft online, up 4% from 1,982 at June 30, 2013.
  • Average monthly service revenue per aircraft online (ARPA) increased to $9,994, up 18% from $8,441 in Q2 2013, driven primarily by a 14% increase in take rate to 6.7% in Q2 2014 from 5.9% in Q2 2013.
  • Total revenue increased to $62.1 million, up 25% from $49.8 million in Q2 2013.
  • Segment profit increased to $6.4 million, up $3.7 million from $2.7 million in Q2 2013, due to strong revenue growth and operating leverage in our CA-NA business segment. Segment profit as a percentage of segment revenue increased to 10% in Q2 2014, up from 5% in Q2 2013.

• Business Aviation (BA)
  • We ended the quarter with 2,415 ATG systems online, up 43% from 1,684 at June 30, 2013, and 5,241 satellite systems online, up 3% from 5,105 at June 30, 2013.
  • Service revenue increased to $17.1 million, up 36% from $12.6 million in Q2 2013, driven by the increase in ATG and satellite systems online and higher average monthly service revenue per aircraft online for both ATG and satellite service.
  • Equipment revenue increased to $20.1 million, up 19% from $16.9 million in Q2 2013, driven by a 16% increase in ATG units shipped to 233 in Q2 2014 from 201 in Q2 2013, and higher average revenue per ATG unit shipped.
  • Total revenue increased to $37.1 million, up 26% from $29.4 million in Q2 2013.
  • Segment profit increased to $15.5 million, up 48% from $10.5 million in Q2 2013, and segment profit as a percentage of segment revenue increased to 42% in Q2 2014, up from 36% in Q2 2013.

• Commercial Aviation - Rest of World (CA-ROW)
  • We had 19 aircraft online as of June 30, 2014, up 14 from five aircraft online at March 31, 2014, as we continued to expand our Ku-band satellite connectivity service on Delta's international fleet. We expect to end 2014 with 50 to 100 CA-ROW aircraft online.
  • Segment loss increased to $18.8 million from a segment loss of $9.4 million in Q2 2013, due primarily to increased satellite transponder and teleport fees and expenses related to the development and certification of our satellite connectivity systems.

For earnings history and earnings-related data on Gogo (GOGO) click here.