Mobile Advertising Company Velti Swings to a Profit in The Third Quarter
Mobile advertising company Velti swung to a third-quarter profit of $623,000 from a net loss of $6.1 million in the same time a year earlier, according to a statement the company released yesterday.
The company brought in revenue of $38.2 million, up from $20.6 million in the same period a year before with new contracts from big brands like Budget Rent-A-Car, Days Inn, Jack in the Box, Revel Entertainment and grocery chain Safeway. Growing penetration of smartphones overall also helped.
Velti
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