QuoteMedia Reports 21% Increase in Revenue for Q3 2011

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PHOENIX--(BUSINESS WIRE)-- QuoteMedia, Inc. (OTCQB: QMCI), a leading provider of market data and financial applications, announced financial results for the three and nine months ended September 30, 2011. These results reflect a 21% increase in third quarter revenue, to $2,330,479 from $1,929,946 in the comparative quarter in 2010. Revenue for the nine months ended September 30, 2011 increased 12%, to $6,563,369 from $5,851,421 in the comparative period in 2010.

“These are very satisfying results,” says Keith Guelpa, President of QuoteMedia, Inc. “We forecasted improved revenue growth and, even though global financial markets continue to experience turmoil, we were able to deliver on those expectations with another successful quarter.

“We expect to see continued revenue growth for the rest of 2011 and into 2012. We are continuing to grow our market share in all areas, on both the institutional and retail sides, and we anticipate that this will continue to be the case in upcoming quarters.

“It is very gratifying to see this strong forward momentum, and we are very optimistic about what the future holds for QuoteMedia.”

About QuoteMedia

QuoteMedia is a leading software developer and syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides data and services for companies such as the NASDAQ, the OTCBB, TMX Group, Dow Jones & Company, Sungard, Wells Fargo, U.S. Bank, Penson Worldwide, Broadridge Financial Systems, Ridge Clearing, Regal Securities, Southwest Securities, Zecco Trading, Zacks Investment Research, General Electric, Dow Chemical, Bombardier, Business Wire, Marketwire, FolioFN, Captivate Network, ChoiceTrade, Qtrade Financial, CNW Group, TradeFreedom, Gain Securities, Gmarkets, Questrade, Schaeffer's Investment Research, Answers.com, WebFinance, and others. For more information, please visit: www.quotemedia.com.

Statements about QuoteMedia's future expectations, including future revenue, earnings, and transactions, as well as all other statements in the press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. QuoteMedia intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are identified from time to time in the Company's SEC reports and filings and are subject to change at any time. QuoteMedia's actual results and other corporate developments could differ materially from that which has been anticipated in such statements.