Earnings: Virgin Mobile's Q1 Was Tough; Looking At Strategic Opportunities For Growth
This story was written by Tricia Duryee.
Virgin Mobile (NYSE: VM) released its first quarter earnings today, showing that results were substantially lower compared to the year-ago period, however, were at the upper end of expectations for the quarter. The results are coming out after a week-long run up in their stock and rumors surfacing that they may receive a private-equity investment...We reported here at mocoNews that one reason for the stock run-up could be expectations of a company sale, or least some part of it, to either a PE, institutional or hedge fund investor, or a strategic. Earlier today, we spoke to Dan Schulman, Virgin Mobile USA's CEO, and would not address them head-on, but did tell us that they are always looking for opportunities. "We don't comment on any rumors out there, but we have said that we believe that there are opportunities for us in terms of non-organic growth, such as another MVNO, or capability set that we might be able to avail ourselves of...Certainly there are a lot of opportunities that we see, and we think some of them are intriguing for us, but it's a matter of what makes the most sense." More here on MocoNews.
By Tricia Duryee