OLB Group Announces Financial Results for Third Quarter, 2024
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 15 2024
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Source: accesswire
Financial Performance: OLB Group, Inc. reported a year-to-date revenue of $10.1 million and a net loss of $1.63 million for Q3 2024, attributed to the write-off of an improperly underwritten CDB portfolio, which is currently under litigation.
Business Developments: The company is rebranding and expanding its services, including launching a new POS system for convenience stores and moving forward with the spinoff of its subsidiary Dmint, while also completing upgrades at its Tennessee facility.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
