Why Boingo Wireless Stock Skyrocketed Today

Evan Niu, CFA, The Motley Fool
·2-min read
Why Boingo Wireless Stock Skyrocketed Today

Shares of Boingo Wireless (NASDAQ: WIFI) have skyrocketed today, up by 24% as of 12:15 p.m. EST, after the company reported fourth-quarter earnings. The results were less relevant than news that Boingo Wireless is going private in an $854 million deal. The telecommunications company said it has been focused in managing its expenses in order to improve profitability, allowing it to boost adjusted EBITDA modestly despite the decrease in sales.