Business
IQST - iQSTEL Reports 133% Revenue Growth to $29 Million for the Nine Months Ended September 30, 2020 Over the Same Period in 2019
NEW YORK, Nov. 16, 2020 /PRNewswire/ -- iQSTEL, Inc. (USOTC: IQST), an international telecommunication and fintech service provider, today announced reporting
About this update from Iqstel Inc.
[{"type":"text","content":"NEW YORK, Nov. 16, 2020 /PRNewswire/ -- iQSTEL, Inc. (USOTC: IQST), an international telecommunication and fintech service provider, today announced reporting $29 million in revenue for the nine months ended September 30, 2020 – a 133% increase over the $12 million reported for the same period the previous year. IQST posted with the SEC its Form 10-Q including results of operations for the 3rd quarter of the 2020 fiscal year on Friday, November 13, 2020.\nIn addition to reporting dramatic revenue growth, the company's shareholder base has increased and now exceeds 2,000. Despite the fact that the Company still recorded losses for the three and nine months ended September 30, 2020 and 2019, the bottom line is improving and moving toward profitability showing a loss of only $0.01. \nSee the full report: \nhttps://www.otcmarkets.com/filing/html?id=14500913&guid=HXMeUqJE71zSi3h\nNow that the company has published its Q3 earnings report, Goldman Small Cap Research plans to issue an update to its recent Analyst Research Report published October 27th with a $0.54 Target PPS following IQST. \nSee https://www.goldmanresearch.com/202010271291/Opportunity-Research/greatest-upside-limited-downside.html\nThe Q4 is on tracks, with a record revenue of $5.1 Million in Oct 2020, we plan to surpass the $42 Million revenue forecast with improved operating margins resulting from new business initiatives oriented to increase gross profits. For example, the execution of the LOI with Alternet Systems (ALYI) ushering IQST's entery into the Electric Vehicle (EV) Industry, and the execution of the LOI with PayVMS for the development of the VISAMoneyOne.com product, entering in the Financial Services Industry.\nAbout iQSTEL Inc (Updated):\niQSTEL Inc (OTC: IQST) (www.iQSTEL.com) is a US-based publicly-listed company offering leading-edge Telecommunication and Technology Services for Global Markets, with presence in 13 countries. The company provides services to the Telecommunications, Financial Services, Liquid Fuel Distribution and Electric Vehicle Industries. iQSTEL has 3 Business Divisions: Telecom, Technology and Fintech, with worldwide B2B and B2C customer relations operating through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, and itsBchain. The Company has a extensive portfolio of products and services for its clients: S...