Boingo reports rising revenue, profit in Q2

Wi-Fi software and services provider Boingo Wireless reported rising revenue in the second quarter, its first reporting after its May IPO, as its spread its Wi-Fi footprint globally.

The company reported revenue of $22.9 million, compared to $20.3 million for the second quarter of 2010, an increase of 13.0 percent. Net income in the three months through June 30 grew to $1.4 million, or 5 cents per share, from $715,000, or 7 cents per share, a year earlier.

"In addition to delivering revenue growth across our retail and wholesale businesses, we achieved improved EBITDA and net income profitability on both a sequential and year-over-year basis," noted CEO and President David Hagan in a release. "Our second quarter performance highlights our success in increasing the global accessibility of Boingo's Wi-Fi software and services network to retail consumers and wholesale partners alike."

For the third quarter, Boingo said it expects revenue to be in the range of $23.0 million to $24.0 million

For more:
- see this release

Special Report: Wireless in the second quarter of 2011

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