UPDATE: Net Element (NETE) Reports Q2 Loss of $0.10/Share, Flat Y/Y

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Go back to UPDATE: Net Element (NETE) Reports Q2 Loss of $0.10/Share, Flat Y/Y

Net Element Reports Second Quarter 2016 Results

August 16, 2016 8:45 AM EDT

MIAMI, FL -- (Marketwired) -- 08/16/16 -- Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a provider of global mobile payment technology solutions and value-added transactional services, today reported financial results for the second quarter ended June 30, 2016 and provided an update on recent strategic and operational initiatives.

For second quarter ended June 30, 2016, net revenues increased 98% to $13,692,848 as compared to $6,906,916 in the prior 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:... More