QuoteMedia Reports 7% Increase in Revenue for Q2 2009

"As expected, the global recession has continued to affect QuoteMedia's revenue growth, which remained relatively flat during the second quarter of 2009, and we anticipate that the weakened economy will result in moderated growth for the balance of the year," says Keith Guelpa, President of QuoteMedia, Inc. "However, this economic downturn continues to be a source of opportunity as the added pressure on financial sector firms to find more efficient and cost effective solutions to their data and technology needs is opening many new doors for QuoteMedia's offerings. The general trend has been the reduction or termination of services by some smaller clients who are struggling or ceasing operations as a result of the current market conditions, while larger prospective new clients have been approaching us about replacing their current solutions. In some cases, these larger opportunities will take extended periods to produce revenue streams, given the scale of the contemplated deployments and the time required to terminate their existing provider contracts. During the quarter, Quotestream Professional, our streaming real-time market data terminal for brokers and financial professionals, has garnered increasing interest and broader market penetration, with a significant number of new client firms commencing their initial rollout. Additionally, the company has completed negotiations with respect to several large scale enterprise deployments encompassing solutions spanning a wide array of our product offerings.

"We experienced a loss for the second quarter of $200,819 compared to a loss of $360,758 in the comparative quarter. The loss for the six months ended June 30, 2009 was $401,125 compared to a loss of $715,677 in the comparative period. This represents a 44% improvement in operating results for the three and six month periods. In view of the current economic conditions, we are satisfied with our progress to date, and we believe that we are on target to meet our long term objectives."

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, SEC 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, Dow Jones & Company, Sungard, Wells Fargo, Penson Worldwide, Motorola, General Electric, Forbes.com, Scotia Capital, Southwest Securities, Zecco Trading, Zacks Investment Research, Business Wire, Regal Securities, Broadridge Financial Systems, ChoiceTrade, Qtrade Financial Group, CNW Group, TradeFreedom, Questrade, Schaeffer's Investment Research 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.

SOURCE: QuoteMedia, Inc.

QuoteMedia 
Keith Guelpa, 480-905-7311 
contactus@quotemedia.com