Sector Update: Technology
Technology shares were generally lower in pre-market trade Thursday.
In technology stocks news, Gogo Inc. ( GOGO ) has reported a Q1 loss per share of $0.20, narrower than the loss of $4.77 per share in Q1 2013 and the $0.25 per share predicted by analysts for Q1 2014. Total revenue of $95.7 million was up from $70.8 million in Q1 2013 and beat analyst estimates of $94.03 million.
The company has reaffirmed full-year guidance of total revenue of $400 million to $422 million. The Street is at $413 million.
And, Sapiens International ( SPNS ) reported non-GAAP earnings of $3.4 million, or $0.07 per diluted share, for Q1 2014 versus non-GAAP earnings of $3.4 million, or $0.08 per diluted share, a year earlier. The average estimate by four analysts were for non-GAAP diluted EPS of $0.07, according to Capital IQ.
Revenues totaled $36.6 million, up from last year's $31.5 million, matching the Capital IQ consensus.
Finally, NII Holdings ( NIHD ) reported financial results for Q1 that fell short of analysts' expectations.
The holding company for Nextel Communications reported Q1 net loss from continuing operations of $376 million, or $2.19 per share compared with $207.5 million or $1.08 loss per share in the prior-year period. The Capital IQ analyst estimate is for $1.99 loss per share.
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