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NetworkNewsBreaks – Net Element, Inc.’s (NASDAQ: NETE) Q2 Revenues Increase on Strength in North America Transaction Solutions Segment

Company: Net Element, Inc. (NETE)
Category: News

Net Element (NASDAQ: NETE) after market close reported its second-quarter results for the three months ended June 30, 2017, along with an update on corporate initiatives. The global financial technology company reported net revenues of $16.1 million, an increase of 18% compared to the comparable quarter of 2016, largely driven by growth in its North America Transaction Solutions and Online Solutions Segments. Noted highlights for the second quarter include the launch of its PayOnline platform, the roll-out of a number of payment solutions, and a key partnership in Europe. “We are pleased with our continued growth. Our results are a reflection of our ability to deliver growth,” Net Element CEO Oleg Firer stated in the news release. “We are excited about our strategic initiatives for the remainder of the year as we continue to streamline international operations and reduce operating expenses while managing the strong U.S. growth and expansion.”

To view the full press release, visit:   http://nnw.fm/bN9OY

About Net Element

Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the U.S. and selected emerging markets. In the U.S. it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant and retail point-of-sale solution Aptito. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions such as UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where initiatives have been recently launched. Net Element was named in 2016 by South Florida Business Journal as one of the fastest growing technology companies. Further information is available at www.netelement.com.

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