EFactor Group Corp (OTCMKTS:EFCT), a leading business network for entrepreneurs has reported financial results for 1Q2015. As per the reports, the revenues of the company have surpassed whopping $1 million mark for the first time.
Financial Insights For 1Q2015:
If taken into consideration the revenue growth over the last 12 months, one can see a second to none hike of 7.6 times on YOY basis. The maximum growth was seen in the revenues that were generated through social network devisions. As per the reports, social network revenue surged 20.1 times to touch a magical figure of $485,157. Business Service devision of the company also contributed heavily with $518, 484 revenues during 1Q2015, 4.5 times more than the last year’s revenues.
Management Call:
The senior management of the company is excited to announce these extraordinary results and gives the entire credit to the team of employees that work round the clock to make things happen. According to Adriaan Reinders, Chief Executive Officer, EFactor Group, a few excellent decisions taken in the first quarter paid off in the form of whopping revenues that the company never expected so early. Continuous focus on acquisitions of businesses with the prime focus on entrepreneurship and quality partnerships made things look very easy for the company.
The above expectation growth in the first quarter is a clear indication of the potential that EFactor has. There are three more quarters to go in the current year and the company is fully committed to achieve greater heights in every way possible.
The entire management team is pleased to see a whopping growth in the revenues, but the thing that made the real change was growth in organic revenue. The company has recently added RocketHub and taken its business divisions to three with each one having amazing potential to grow at a rapid pace. EFactor Group Corp (OTCMKTS:EFCT) looks forward to continuing this performance in the coming months.
