QuoteMedia, Inc. (QMCI.OB) Reports 56% Increase in Revenue for Third Quarter of 2007
QuoteMedia, Inc., a leading provider of market data and financial applications, announced financial results for the three and nine months ended September 30, 2007. The results reflect a 56% increase in third quarter revenues and an increase of 51% for the nine months. At the end of September 30, 2007, QuoteMedia's deferred revenue balance was up 39% which refers to revenue represented in customer’s advance payments that will be recognized as revenue in future quarters when the services are performed. QuoteMedia provides comprehensive financial stock market data and research solutions for online brokerages, clearing firms, banks, public corporations, media portals…