The OLB Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 21, 2023 at 06:10 am EDT
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The OLB Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 0.137541 million compared to USD 0.207966 million a year ago. Revenue was USD 8.34 million compared to USD 8.37 million a year ago. Net loss was USD 0.587818 million compared to USD 1.44 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to USD 0.11 a year ago.
For the six months, sales was USD 0.30429 million compared to USD 0.472306 million a year ago. Revenue was USD 14.97 million compared to USD 17.16 million a year ago. Net loss was USD 3.2 million compared to USD 2.89 million a year ago. Basic loss per share from continuing operations was USD 0.22 compared to USD 0.22 a year ago.
The OLB Group, Inc. is a diversified Fintech eCommerce merchant services provider and Bitcoin crypto mining enterprise. Its eCommerce platform delivers cloud-based merchant services for a comprehensive digital commerce solution to over 10,300 merchants in diversified market sectors in all 50 states. Its business functions through three subsidiaries, eVance, Inc. (eVance), OmniSoft.io, Inc. (OmniSoft), and CrowdPay.Us, Inc. (CrowdPay). OmniSoft operates a cloud-based business management platform that provides turnkey solutions for merchants to enable them to build and manage their retail businesses. eVance provides competitive payment processing solutions to merchants, which enable merchants to process credit and debit card-based internet payments for sales of their products. CrowdPay.US operates a white label capital raising platform that targets small and midsized businesses seeking to raise capital. DMint, a subsidiary of the Company, is engaged in the mining of Bitcoin in Tennessee.
THE OLB GROUP, INC. 
