Boingo Wireless Earnings: Here’s Why Investors are Excited Now
Boingo Wireless Inc (NASDAQ:WIFI) had a loss and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.19%.
Boingo Wireless Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.01 in the quarter versus EPS of $0.04 in the year-earlier quarter.
Revenue: Rose 7.82% to $26.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Boingo Wireless Inc reported adjusted EPS loss of $0.01 per share. By that measure, the company met the mean analyst estimate of $-0.01. It beat the average revenue estimate of $24.57 million.
Quoting Management: “Our positive momentum continued through the second quarter, with all three major lines of business– retail, wholesale, and advertising – contributing to our overall performance,” said David Hagan, Chief Executive Officer of Boingo Wireless. “Our retail and advertising businesses over-performed for the quarter to help lead us to $26.2 million in revenue, which exceeded the high end of our guidance. Stability in the wholesale sector, especially as it relates to revenue generated by DAS upgrade projects for the carriers, helped amplify the retail and advertising gains.”
Key Stats (on next page)…