If a company continues to post strong numbers over the course of three consecutive quarters, then it is time for investors to sit up and take notice. The company in question is Affluence Corporation (OTCMKTS:AFFU), which was in the news yesterday after it announced its earnings for the second fiscal quarter of 2022 and ended up reporting the third straight quarter of record revenues.
Trading Data
On Thursday, AFFU stock moved up 1.80% to $0.0285 with 827K shares, compared to a volume of 340K shares. The stock moved within a range of $0.0266 – 0.0360 after opening trade at $0.0280.
Affluence Corporation Announces Third Consecutive Quarter of Record Revenue in Q2
The revenues of $617,076 generated in the second quarter worked out to a year-on-year rise of as much as 511% and on a sequential basis, it reflected a rise of 12% from the revenues recorded in the first quarter of 2022.
More importantly, it is perhaps necessary to keep in mind that it was the third consecutive quarter in which Affluence Corporation had managed to post positive income. In light of such a strong performance, it is fairly likely that the stock is going to come on to the radars of several investors this morning and it could be a good idea to track it. The Chief Executive Officer of the company James E Honan Jr noted that the growth generated by the company had primarily come about due to the range of industry-related partnerships it had struck up.
Key Quote
“I am pleased to announce our third consecutive quarter of record revenue,” said James E Honan, Jr., CEO of Affluence Corporation. “I am extremely proud of our team and delighted to announce a record revenue of $617,076 for the second quarter of 2022. Affluence’s continued growth has been fueled by multiple industry partnerships and a rapidly growing Smart City Software market with a 25% Compound Average Growth Rate (CAGR) and the Smart City market is expected to be $6 trillion by 2030. Because of this, we are very confident that this momentum will continue for the remainder of the year,” said Honan.
Technical Data
AFFU stock is trading above the 50-Day and 200-Day Moving averages of $0.0267 and $0.0246 respectively. Moreover, the stock is trading above the 20-Day moving average of $0.0616.
