Business
IQST – iQSTEL Announces 83% Revenue Increase For October To $9.4M After Reporting First Profitable Quarter With 33% Revenue Increase To $21.94M
New York, NY, Nov. 16, 2022 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQX: IQST) today announced revenue in October 2022 reached $9.4 million based on preliminary
About this update from Iqstel Inc.
[{"type":"text","content":"New York, NY, Nov. 16, 2022 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQX: IQST) today announced revenue in October 2022 reached $9.4 million based on preliminary accounting. This represents an 83% increase over the $5.1 recorded in October 2021. On Monday this week, iQSTEL filed its Q3 financial report for FY 2022. The company reported Q3 revenue of $21.94 million realizing a 33% increase compared to the same period in 2021. YTD revenue through September 30, 2022, is over $65 million. The highlight of the Q3 financial statement was iQSTEL reporting its first operating and consolidated income positive period achieving one of the company´s financial objectives for FY-2022 earlier than anticipated. Between the $65 million in revenue reported YTD through September 30, 2022, and the $9.4 million in revenue recorded for October totaling $74.4 million in revenue YTD though October 2022 based on preliminary accounting, management is confident iQSTEL will meet or exceed its $90 million annual revenue forecast for 2022. Stockholder’s equity as of September 30, 2022, is $9.2 million representing an increase 172% compared to Q3 2021. The reported Stockholder’s equity surpasses the Nasdaq minimum listing requirement and further supports the company’s Nasdaq up-listing objective. A full analysis of the company’s overall improving financial performance displayed in a variety of charts and graphs is available at the following link: http://bit.ly/IQSTELFinancialEvolutionQ3_2022 About iQSTEL Inc.: iQSTEL Inc. (OTCQX: IQST) (www.iQSTEL.com) is a US-based publicly listed company holding an Independent Board of Directors and Audit Committee with a presence in 19 countries and 70 employees offering leading-edge services through its four business lines. The Telecom Division (www.iqstelecom.com), which represents the majority of current operations, offers VoIP, SMS, proprietary Internet of Things (IoT) solutions, and international fiber-optic connectivity through its subsidiaries: Etelix, SwissLink, Smartbiz, Whisl, IoT Labs, and QGlobal SMS. The Fintech business line (www.globalmoneyone.com) (www.maxmo.vip) offers a complete Fintech ecosystem MasterCard Debit Card, US Bank Account (No SSN Needed), Mobile App/Wallet (Remittances, Mobile Top Up, Buy/Sell Crypto). Our Fintech subsidiary, Global Money One, is to provide immigrants access to reliable financial ...