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Inuvo 2Q Net Income Up 16 Percent

1 min read

Inuvo Inc. of Conway said Wednesday that second-quarter net income was $445,000, or 2 cents per share, up 16 percent from $382,000, or 2 cents per share, during the same quarter last year.

The advertising and digital publishing firm reported revenue of $16.7 million, up 53 percent from $10.9 million in the same quarter last year.

Richard Howe, Inuvo’s CEO, said the second quarter marks the company’s third straight period of “strong” year-over-year growth and its seventh straight quarter of profitability.

“We are making and will continue to make the necessary investments to capture market share in support of growth,” Howe said in an earnings release.

Each of the company’s two segments, “Partner Network” and “Owned & Operated,” saw revenue growth. Partner revenue was $9.3 million, up 67 percent from the same quarter last year. Owned & Operated revenue was $7.4 million, up 39 percent from last year.

Inuvo’s Partner Network facilitates transactions between advertisers and Inuvo’s partners’ websites and applications. Inuvo’s Owned & Operated Network designs, builds and markets consumer websites and applications under its Alot brand.

“While both segments experienced strong growth in the quarter, the Partner Network benefited from an uncharacteristically strong spring, the result of strong advertiser demand in automotive that is likely to normalize in the second half of the year,” Howe said.

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