Monday, June 6, 2011

Boingo Wireless Posts $21 Million in Quarterly Revenue

Boingo Wireless, which recently completed its IPO, reported first quarter revenue of $21.0 million, compared to $18.5 million for the first quarter of 2010, an increase of 13.7 percent. During the first quarter, the company generated $5.7 million in cash from operating activities and ended the first quarter with overall cash and investments of $33.9 million. This excludes cash received from its IPO, which was completed on May 3, 2011.