Viewbix Inc (OTCMKTS:VBIX) Stock Falls After Q3 Earnings Update

The global innovating ad-tech and mar-tech technology development company Viewbix Inc (OTCMKTS:VBIX) may come into focus among investors today after it announced a strong performance in the third fiscal quarter of 2022 yesterday. It should be noted that it was the first financial results announced by the company since its acquisition of Gix Media Ltd.

Trading Data

On Tuesday, VBIX stock ended flat at $0.5756 with more than 1 shares, compared to its average volume of 987 shares. The stock moved within a range of $0.5756 – 0.5756 after opening trade at $0.5756.

Viewbix Reports Third Quarter 2022 Financial Results with a 176% Growth in Revenues Totaling $66 Million

In the nine month period that ended on September 30, 2022 the company managed to generate revenues of $66,115 and that reflected a year on year rise of as much as 176%. On the other hand, the revenues in the three month period came to $22,778 and that worked out to a year on year rise of as much as 182%.

On the other hand, Viewbix managed to generate an operating income to the tune of as much as $1,407,000 in the nine month period and that proved to be a major turnaround. In the prior year period, the company had suffered a loss of $44,000. The operating income in the quarter stood at $427,000 and that was again a significant turnaround from the $111,000 worth of losses in the prior year period. It could be a good time to add the Viewbix stock to your watch lists.

Key Quote

“We are proud to report our first results as Viewbix. In this period, we managed to present significant growth that demonstrates the strength of Viewbix and the ability to navigate our numerous activities intelligently. We are working diligently to continue the positive trend and are considering entering into additional activities in the fields of advertise and marketing technologies to enable greater growth to provide additional value to our shareholders. In the last year we expanded to the field of digital content through the acquisition of Cortex by Gix Media in October 2021, a purchase that has proven itself, financially and synergistic and it is our intention to continue pursue opportunities to leverage our growth,” said Amihay Hadad, CEO of Viewbix.