Net Element Inc. (NASDAQ: NETE) Revenues Grow in 2018, Total Processing Volume Also Goes Up

April 12, 2019 10:12:50
  • Sustainable growth in revenue mainly stemmed from the North American transaction solutions segment
  • The total processing volume also grew to reach $3.3 billion, most of which was covered by North America
  • Net Element subsidiaries like Aptito have been contributing to the U.S. market growth with the provision of cost-efficient, tailored and innovative niche services

Net Element Inc. (NASDAQ: NETE) recently announced solid financial growth in 2018. The company’s revenue over the year went up to $65.8 million, marking an increase of 10 percent on an annual basis. Growth through the company’s North American transaction solutions segment was the primary driver for the strong results, as the company’s management announced in an earnings conference call on April 2, 2019 (http://nnw.fm/sF47f).

The North American transaction solutions segment experienced annual growth of 16 percent in 2018. The United States accounted for 90 percent of the overall revenue, while international revenue contributed…

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