Boingo: 2Q Earnings Snapshot
Aug. 01, 2018
LOS ANGELES (AP) _ Boingo Wireless Inc. (WIFI) on Wednesday reported second-quarter net income of $2.1 million, after reporting a loss in the same period a year earlier.
The Los Angeles-based company said it had profit of 5 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.
The provider of Wi-Fi hotspots in airports and other public places posted revenue of $59.6 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $56.9 million.
For the current quarter ending in October, Boingo said it expects revenue in the range of $60 million to $64 million.
The company expects a full-year loss of 36 cents to 24 cents per share, with revenue ranging from $243 million to $250 million.
Boingo shares have climbed 3 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.22, a climb of 55 percent in the last 12 months.