First Global Data (TSXV:FGD) has announced its third quarter financial results for 2017.
First Global has increased revenues since its 2016 third quarter, coming out of 3Q17 with a revenue of $4,504,979, compared to 3Q16’s $1,112,116.
There was, however, a greater net income loss in 3Q17 than in 3Q16. 3Q17 showed a loss of $35,053, while 3Q16’s net income loss was $4,363. The reason for this is that the company has continued to increase its licenses in the US, adding additional costs not present the year prior.
Coming out of the third quarter, First Global has maintained an overall positive net income, and its capital position remains strong.
“We are generally pleased with our financial results for Q3, 2017. The Company is focused on implementing business deals that have been announced and we believe that as they are deployed they will have a material positive impact to our transactional revenues,” said Andre Itwaru, Chairman and CEO of First Global.
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