IQST - iQSTEL Announces Profitable Q3 Results On 81% Revenue Growth To $39.8M

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[{"type":"text","content":"NEW YORK, Nov. 14, 2023 /PRNewswire/ -- iQSTEL Inc. (OTC-QX: IQST) today announced publishing the company's Q3 2023 financial report on SEC Form 10Q. \n\nRecord high quarterly revenue of $39.8 million for Q3 FY202381% revenue growth compared to same period in previous yearYTD revenue ahead of $120 million forecasted annual pace for FY2023Positive Operating and Net Income achieved in Q3 one quarter earlier than forecasted \n \nThe company achieved a record high quarterly revenue of $39.8 million for the three months ended September 30, 2023. The Q3 FY2023 revenue increased 81% over the revenue for the same period the previous year. Management indicates the YTD revenue of $97.2 million through the end of Q3 FY2023 is well ahead of pace for the Company to achieve its $120 million annual revenue forecast. The company reported a quarterly positive operating income of $70,753 and a positive net income of $45,909, before adjustments for non-controlling interests, achieving profitability one quarter prior to forecast.\n\"Achieving positive operating income is a major milestone for iQSTEL,\" said iQSTEL CEO Leandro Iglesias. \"We continue to deliver consistently high revenue growth and expect to surpass the previously announced $120 million revenue forecast for year-end 2023. We have been working to achieve this positive operating income milestone and are pleased to have reached the milestone earlier than expected. We expect to continue reporting a positive operating income on a quarterly basis from here forward and to report an annual positive operating income for FY 2024 EOY. The positive operating income demonstrates the overall viability of our core telecommunication division's capacity to support the ongoing development of our new technology business divisions to ultimately expand our sales with higher margin products and services, and to cover our public company expenses.\"\nMr. Iglesias added \"iQSTEL's positive operating income results demonstrate our readiness to uplist to Nasdaq. Our engagement with LDA Capital for an anticipated $10 million investment as part of our plan to uplist iQSTEL to Nasdaq continues on track. After happily reporting such exceptional financial results, I am even happier to boldly, and confidently say to you that the best is yet to come.\"\nAbout IQSTEL:\niQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) is a ...

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