UPDATE 2-Gogo revenue jumps as more users access in-flight Internet

Mon May 12, 2014 11:52am EDT
 
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* 1st-qtr rev $95.7 mln vs est $94 mln

* 1st-qtr adj loss/shr $0.20 vs est $0.25

* Shares rise as much as 10.6 pct (Adds details, updates shares)

By Soham Chatterjee

May 12 (Reuters) - Gogo Inc reported a higher-than-expected 35 percent jump in quarterly revenue, as more flyers used its in-flight wireless internet services, and brushed away concerns about rival services from AT&T Inc.

Shares of Gogo, which provides wi-fi in aeroplanes largely via mobile-network technology in the United States, rose nearly 11 percent on Monday morning.

The company's stock lost a third of their value through Friday after telecom giant AT&T said late last month that it would launch a competing service.

Gogo, which is trying to shift to a faster satellite-based system, said its technology was ahead of the 4G LTE platform that AT&T proposed to use.

"Our next-generation solutions... will be faster and flying sooner than AT&T's proposed solutions," Gogo Chief Executive Michael Small said on a post-earnings conference call.   Continued...