QuoteMedia Announces Financial Results for Q2 2017

PHOENIX, Aug. 09, 2017 (GLOBE NEWSWIRE) -- QuoteMedia, Inc. (OTCQB:QMCI), a leading provider of market data, cloud-based financial web content solutions and stock market applications, announced financial results for the three months ended June 30, 2016. These results reflect second quarter revenue of $2,339,265, up from $2,188,192 in the comparative period in 2016, an increase of $151,073 (7%).

“We are experiencing increased demand across all product lines,” says CEO Keith Guelpa. “Our QMod line of responsive, SEO-friendly HTML5 market data widgets is emerging as a major source of new business for our company. The combination of technological superiority, customizability, functionality and attractiveness is virtually unmatched. Additionally, enterprise deployments of our flagship Quotestream line of financial data applications continue to be a significant driver of income growth.

“In addition to steady revenue growth in the second quarter of 2017, we experienced significantly improved gross margin percentages - 47% for the three months ended June 30, 2017 compared to 41% in the respective period in 2016. We expect these positive trends to continue for the remainder of 2017 and into 2018.

“We are pleased with our improved results so far this year, and look forward to furthering this growth trend in the coming quarters.”

About QuoteMedia

QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides data and services for companies such as the NASDAQ Stock Exchange, TMX Group (TSX Stock Exchange), Dow Jones & Company, FIS, U.S. Bank, Broadridge Financial Systems, Ridge Clearing, JP Morgan, CIBC, JitneyTrade, Hilltop Securities, HD Vest, Intrinsic Research Systems, ING Investment Management, Stockhouse, Zacks Investment Research, General Electric, Dow Chemical, Boeing, Bombardier, Business Wire, PR Newswire, Marketwired, FolioFN, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Qtrade Financial, CNW Group, Industrial Alliance, TradeKing, Suncor, Virtual Brokers, Equities.com, Leede Jones Gable, Divy Inc., Motif Investing, First Financial, Cirano, Stock-Trak, Mergent and others. Quotestream®, QModTM and Quotestream ConnectTM are trademarks of QuoteMedia. For more information, please visit: www.quotemedia.com.

Statements about QuoteMedia's future expectations, including future revenue, earnings, and transactions, as well as all other statements in the press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. QuoteMedia intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are identified from time to time in the Company's SEC reports and filings, and are subject to change at any time. QuoteMedia's actual results and other corporate developments could differ materially from that which has been anticipated in such statements.

QuoteMedia Dave Shworan, (877) 311-9911 ext. 101 contactus@quotemedia.com

Source:QuoteMedia, Inc.