U.K.-based mobile banking and payment services provider Monitise saw its stock drop 10 percent on Thursday due to widening pre-tax losses, Finextra reported on September 5.
The media outlet noted that losses stemmed from Monitise’s technology investments and notable recent acquisitions. Still, revenues climbed to £72.8 million, up from £36.1 million last year.
“Monitise has delivered another financial year of very strong growth that reflects our standing as a category-leading specialist,” Alastair Lukies, Monitise’s CEO said in a September 5 statement.
For more on this developing story, click here.
