Wednesday, June 8, 2011

Boingo Wireless Reports Quarterly Results

Los Angeles-based Boingo Wireless, the operator of a network of Wi-Fi access points, has reported its first quarterly results as a public company. Boingo said it had revenues of $21.0M, up from $18.5M for the first quarter of 2010. The firm reported a net loss of $329,000, versus a net loss of $127,000 for Q1 last year. Boingo Wireless debuted on the market on May 3rd as WIFI on the Nasdaq Global Market. So far, the firm has had a lackluster reception on Wall Street, despite its revenue numbers; the firm closed at $8.87 Tuesday, down from its IPO debut at $13.50.

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