Net revenues at international coupon publisher RetailMeNot may have grown by $59.5 million, a 37% year-on-year increase on the second quarter of 2013,but profits fell.
Texas-based RetailMeNot suffered a 16% slump in net income as last year’s Q2 total of $5.1 million dropped to $4.3 million because of increased investment in product development, sales and marketing.
Despite the blip in profits RetailMeNot recorded earnings before interest, taxes, depreciation, and amortisation of $19.7 million, up 16% on the previous year’s corresponding quarter of $15.7 million.
Mobile was a high-growth channel for the company as net revenues, which included takings from mobile websites, applications and the in-store product, shot up 114% from $5 million to $10.7 million.
Multi-channel growth
Commenting on RetailMeNot’s soaring mobile revenue, the firm’s CEO and founder Cotter Cunningham spoke of the bearing a cross-device approach was having on company-wide coupon strategy.
“Our results continue to demonstrate the value of our multi-channel services that help consumers save money and enable retailers to increase sales in the United States and international markets.”
“Overall we saw strong growth in consumer usage and engagement across platforms. We believe that from discovery to purchase, we offer retailers high ROI channels that help them turn shoppers into buyers.”
Sales growth in mobile and desktop is unlikely to slow over the coming quarters with the global appetite for saving money unwavering and RetailMeNot reporting that visits have risen 27% to 154.2 million.