EDGAR posts positive Q2 results, spike in XBRL business
NEW YORK: EDGAR Online, the business and financial information company, announced a year-over-year revenue increase of 13% to $4.9 million for Q2 2008. Total revenues for the first half of the year are up 17% at $9.9 million, compared to $8.5 million in the same period in 2007.
The company said it saw particular growth in its XBRL filing business since the Securities and Exchange Commission proposal that would require the largest organizations to file financial information in the new XBRL format. EDGAR Online noted in its earnings release that it has created more than 100 XBRL filings year-to-date with more than 80% of these created since the May announcement.
