Brief: Gogo Says Delay In Its Gogo 5G System Launch Due To A Design Error

Gogo

28/07/2023 03:07

July 27 (Reuters) - Gogo Inc  GOGO.O :
    * GOGO PROVIDES UPDATE ON 5G LAUNCH
    * DELAY IN ITS GOGO 5G SYSTEM LAUNCH, DUE TO A DESIGN ERROR
IN A
NON-5G COMPONENT OF ITS CHIP
    * EXPECTS TO DELIVER GOGO 5G IN APPROXIMATELY MID-YEAR 2024
    * GOGO-DELAY IS ANTICIPATED TO REDUCE 2023 REVENUE BY ABOUT
$7
MILLION AND DEFER ABOUT $13 MILLION IN OPERATING AND CAPITAL
EXPENSE FROM 2023 INTO 2024

Source text for Eikon:  ID:nPnpmCXJa 
Further company coverage:  GOGO.O 

 ((Reuters.Briefs@thomsonreuters.com;))