LevelStock.com: QuoteMedia reports 5% revenue increase in Q1 2010

QuoteMedia Inc (OTCBB:QMCI), a provider of market data and financial applications, reported on Wednesday that for the first quarter ended 31 March 2010 its revenue was USD 2.0m, up 5% from USD 1.9m in the same quarter of 2009.

President Keith Guelpa said that the global economic downturn and the challenges facing the financial services sector have impacted on revenue growth and this trend is expected to continue in the short term.

"In the latter half of this year, however, we expect to see improved revenue growth, as the projects and opportunities that are currently in development begin producing significant revenue streams," he added.

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