Otc Markets Group's (OTC:OTCM) second-quarter results showed progress against a relatively subdued market background, underlining the benefits of its mainly subscription-based business model. Investment in the IT platform continues to pay off in the shape of 100% uptime. The achievement of Blue Sky recognition from five states is a promising early indicator of the group’s ability to broaden its appeal to a wider range of corporate clients.
Second quarter results
OTC Markets Group (OTCM) reported second-quarter revenues 2% ahead and net income up 5% compared with the same period last year. By business line, OTC Link ATS revenues were down 9%, reflecting pricing changes made last year and reduced volumes, while market data was modestly up and corporate services ahead by nearly 10%, driven by a higher number of corporate clients compared with Q215. The quarterly dividend was maintained at $0.14 (the 31st consecutive quarterly dividend payment).
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