Revenue Update on iPass(NASDAQ:IPAS)

iPass(NASDAQ:IPAS) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $16.50M. Analysts estimated a revenue of $16.31M. Earnings per share were $-0.02. Analysts had estimated an EPS of $-0.01.

iPass (IPAS) shares turned negative on Fridays trading session with the shares closing down -0.01 points or -0.63% at a volume of 3,02,294. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.63. The peak price level was also seen at $1.63 while the days lowest was $1.55. Finally the shares closed at $1.58. The 52-week high of the shares is $1.73 while the 52-week low is $0.805. According to the latest information available, the market cap of the company is $104 M.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, Brent Morrison (director) sold 9,100 shares at $1.16 per share price.Also, On May 16, 2016, Gary A Griffiths (CEO) purchased 5,000 shares at $1.16 per share price.On Mar 2, 2016, Michael Tedesco (director) purchased 15,000 shares at $0.99 per share price, according to the Form-4 filing with the securities and exchange commission.

iPass (NASDAQ: IPAS) is a Wi-Fi network offering convenient secure always-on Wi-Fi access on any mobile device. Built on a software-as-a-service (SaaS) platform the iPass cloud-based service keeps its customers connected by providing unlimited Wi-Fi connectivity on unlimited devices. Using technology iPass SmartConnect takes the guesswork out of Wi-Fi automatically connecting customers to the best hotspot for their needs. Customers simply download the iPass app to experience unlimited everywhere and invisible Wi-Fi. The Company sells its services directly through its global sales force as well as through reseller and carrier partners. The Company is headquartered in Redwood Shores California.

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