Why Boingo Wireless Inc. Stock Is Jumping Today
Shares of Boingo Wireless (NASDAQ: WIFI) jumped as much as 28.6% higher on Friday, setting fresh all-time highs in the process, after the company reported quarterly earnings results. As of 2:25 p.m. EDT, the stock was up 26.5%.
The operator of small-cell wireless networks and Wi-Fi systems in airports, malls, and stadiums around the world reported second-quarter results on Thursday night. Net losses per share expanded from $0.19 to $0.20, and analysts were looking for a smaller $0.13 loss per share. But sales rose 25% year over year to land at $49 million, significantly ahead of the Street's $46 million consensus estimate.
Looking ahead, Boingo's management continues to expect substantial net losses in fiscal year 2017 but raised their revenue guidance from $184 million to $195 million.
Source: Fool.com
