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Boingo: 2Q Earnings Snapshot

August 1, 2019

LOS ANGELES (AP) _ Boingo Wireless Inc. (WIFI) on Thursday reported second-quarter profit of $216,000.

The Los Angeles-based company said it had net income of less than 1 cent on a per-share basis.

The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.

The provider of Wi-Fi hotspots in airports and other public places posted revenue of $68.6 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $68.4 million.

For the current quarter ending in October, Boingo said it expects revenue in the range of $60 million to $65 million.

The company expects a full-year loss of 45 cents to 34 cents per share, with revenue ranging from $270 million to $280 million.

Boingo shares have fallen 31% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.21, a decline of 39% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WIFI at https://www.zacks.com/ap/WIFI

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