Business
CloudCommerce Reports 118% Increase in Revenue During the September 30 Quarter Over Same Quarter in 2016
CloudCommerce Reports 118% Increase in Revenue During the September 30 Quarter Over Same Quarter in 2016.
About this update from Ai Advertising Inc.
[{"type":"text","content":"\nCloudCommerce Reports 118% Increase in Revenue During the September 30 Quarter Over Same Quarter in 2016\n\nCloudCommerce Reports 118% Increase in Revenue During the September 30 Quarter Over Same Quarter in 2016\n\n\nKey acquisition results in year over year increased quarterly revenue\n\nSANTA BARBARA, CA--(Marketwired - December 11, 2017) - CloudCommerce, Inc. (OTCQB: CLWD), a leading provider of data driven solutions, today commented that the filing of its first quarterly report after its recent acquisition of Parscale Creative (renamed Parscale Digital), shows an increase in consolidated revenue of 118% over the previous year-over-year quarter.Total revenue for the three months ended September 30, 2017 increased by $1,294,325 to $2,386,999, compared to $1,092,674 for the three months ended September 30, 2016. This increase in revenue was primarily due to adding two months results from the acquisition of Parscale Digital, acquired on August 1, 2017.The quarterly report did not include consolidated financials for the acquisition of Texas-based digital marketing solutions provider Webtegrity, which was recently announced on November 17, 2017. The Company reported a net loss of 376,071 for the three months ended September 30, 2017, compared to a net loss of $ 234,570 for the three months ended September 30, 2016. The increased loss was primarily due to an operating loss in the Company's e-commerce division.\"We're happy to announce this quarter showing steady results from our M&A activities,\" commented CloudCommerce CEO Andrew Van Noy. \"We're encouraged that the acquisitions of both Parscale Digital and Webtegrity have created significant value for our shareholders. This year over year quarterly revenue increase represents the exceptional effort made this year by our team members.\"After completing these transactions in 2017, CloudCommerce intends to continue aggressively seeking out additional companies to acquire in an effort to form a global family of data-driven services and solutions to help leading brands successfully conduct business in the cloud.About CloudCommerceCloudCommerce, Inc. (CLWD) is a leading provider of data driven solutions. We help our clients acquire, engage, and retain their customers by finding actionable information hidden in critical sources of data. We focus intently on using quantitative and...