Petrone Worldwide, Inc. announced earnings results for the second quarter and six month ended June 30, 2017. For the quarter, the company reported total revenue increased by 98% compared to the corresponding period of 2016. The company completed the second quarter with $3.7 million in net income compared to -$508,576 at June 30, 2016.

For the period, the company reported total revenue increased 112% compared to the total revenues in the corresponding period of 2016. This increase was driven by an increase in new item revenues, as the company continued to expand its direct sales force and increase its customer base.

For the fiscal year 2017, Management believes that its current cash levels and its cash flows are below average; although, from future operations will be adequate to meet anticipated working capital needs, anticipated levels of capital expenditures and contractual obligations for the next twelve months.