UPDATE: Net Element (NETE) Reports Q2 Loss of $0.10/Share, Flat Y/Y
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(Updated - August 16, 2016 8:47 AM EDT)
Net Element (NASDAQ: NETE) reported Q2 adjusted EPS of ($0.10), versus ($0.10) reported last year. Revenue for the quarter came in at $13.69 million, versus $6.91 million reported last year.
The $6,785,932 increase in net revenues is primarily due to growth in the Company's three segments:
- North America Transaction Solution segment: Continued organic growth of SMB merchants in this segment with emphasis on value-added offerings. Revenues for this segment were $10.4 million, a 66% increase over the prior year.
- Mobile Solutions segment: As a result of a continued organic growth in the branded content origination. Revenues for this segment were $1.8 million, a 435% increase over the prior year.
- Online Solutions: Revenues for this segment were $1.5 million, a 396% increase over the prior year (PayOnline acquired May 20, 2015).
For earnings history and earnings-related data on Net Element (NETE) click here.
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