Dolphin Entertainment Inc (NASDAQ: DLPN) is soaring in the market this morning, and for good reason. The company released its financial results, showing some impressive growth to say the least. Of course, this excited the investing public, causing the stock to make a run for the top. Today, we’ll talk about:
- The financial results released by DLPN;
- what we’re seeing from the stock as a result;
- and what we’ll be watching for ahead.
DLPN Announces Financial Reseults
As mentioned above, Dolphin Entertainment is having a great day int he market today after releasing its financial result for the full year ending December 31, 2017. Here’s what we saw from the report:
- Massive Revenue Growth – During the full 2017 year, DLPN generated revenue in the amount of $22.4 million. That figure shows massive, more than 100% year over year growth from the 2016 revenue figure of $9.4 million.
- Shrinking Losses – The company also reported some seriously positive news with regard to operating loss. During the year, the operating loss came in at $1.1 million. That’s an incredible improvement over the loss of $17.7 million reported in 2016.
- Net Income – Finally, DLPN announced that net income came in at $6.9 million. This compares well to a net loss of $37.2 million reported in 2016. ‘
In a statement, Bill O’Dowd, CEO at Dolphin Entertainment, had the following to offer:
We had a very strong 2017. Revenue grew significantly, to $22.4 million, a 238% increase from the prior year. A substantial part of that total growth continues to be attributable to our March 2017 acquisition of 42West.
In 2018 we will continue to drive top and bottom line growth. In our content marketing division, we are already off to a good start having signed many new projects and clients this year. Furthermore, we continue to see opportunities to complement our organic growth by pursuing accretive acquisitions of companies or personnel in the highly-fragmented content marketing space. In terms of producing content, we are focused on moving at least one film into production, thereby generating additional revenues for that business unit and providing optionality in 2019. Collectively, the accomplishments of last year, including our uplisting to NASDAQ, have Dolphin well positioned to maximize shareholder value in 2018 and beyond.
What We’re Seeing From The Stock
With such positive financial data being released, it’s no surprise to see that Dolphin Entertainment is doing well in the market today. After all, who could say anything negative when a company sees massive revenue growth and tapers losses down in a big way? Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:15), DLPN is trading at $4.43 per share after a gain of $0.93 or 26.57% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on DLPN. In particular, we’re interested in following the continued growth of the company. At this rate, profits are just around the corner. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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