Business
IQST - iQSTEL Announces $83 Million YTD Revenue Besting Forecasted Rate
NEW YORK, Sept. 6, 2023 /PRNewswire/ -- iQSTEL Inc. (OTC-QX: IQST) today announced achieving over $13 million in revenue in both the months of July and August
About this update from Iqstel Inc.
[{"type":"text","content":"NEW YORK, Sept. 6, 2023 /PRNewswire/ -- iQSTEL Inc. (OTC-QX: IQST) today announced achieving over $13 million in revenue in both the months of July and August based on unaudited accounting. After reporting $57.5 million in revenue for the first six months of the year, iQSTEL's year-to-date (YTD) revenue through the end of August is over $83 million based on unaudited accounting. The $13 million monthly revenue rate puts iQSTEL on pace to reach over $130 million in annual revenue beating the company's $120 million annual revenue forecast.\n\"We are pleased to report our ahead of pace year-to-date revenue results,\" said Leandro Iglesias, iQSTEL CEO. \"We are considering an increase to our $120 million annual revenue forecast. I am also pleased to report our plans to increase our core telecommunications operating income are also on track. iQSTEL's SwissLink 2.0 operation is currently showing a positive operating income trend and we anticipate our skyrocketing QGlobal SMS business to show a positive operating income for Q3. We continue on plan to expand iQSTEL's new operations enhancing our telecom business further increasing revenues with higher margins. For example, we recently launched our AI-Enhanced Metaverse App V1.2 and announced the potential of soon engaging our first two AI-Enhanced Metaverse clients, a substantial retail company, and a global bank.\"\nAbout IQSTEL:\niQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) is a US-based, multinational publicly listed company preparing for a Nasdaq up-listing with an FY2023 $120 million revenue forecast. iQSTEL's mission is to serve basic human needs in today's modern world by making the necessary tools accessible regardless of race, ethnicity, religion, socioeconomic status, or identity. iQSTEL recognizes that in today's modern world, the pursuit of the human hierarchy of needs (physiological, safety, relationship, esteem and self-actualization) is marginalized without access to ubiquitous communications, the freedom of virtual banking, clean affordable mobility and information and content. iQSTEL has 4 Business Divisions delivering accessibly to the necessary tools in today's pursuit of basic human needs: Telecommunications, Fintech, Electric Vehicles and Metaverse.\nThe Enhanced Telecommunications Services Division (Communications) includes VoIP, SMS, International Fiber-Optic, Prop...