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NQ Mobile Reports Q2 Sales Growth Of 18%

China-based NQ Mobile Inc (ADR) NQ released its fiscal second-quarter earnings results on Monday after the closing bell. The company reported an 18 percent increase in sales to $83.7 million. Non-GAAP net income in the period was $7.6 million or $0.08 per ADS, compared to $7.0 million in last year's comparable quarter.

"We are pleased with the continuing advancement of our entertainment businesses." said Mr. Zemin Xu the Chief Executive Officer of NQ Mobile. "The team continues to work hard and deliver results which are reflected in our financial performance. With the first half of 2016 behind us, we look forward to executing our strategy in the remainder of the year while continuing to position strongly for the future."

Shares traded recently at $4.88, up 8 percent in the after-hours session.

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