Business
iQSTEL’s April and May 2020 Revenues Increased 93% and 190% Respectively Over 2019 Numbers; On Track to Surpass $40M Total Revenues in 2020
NEW YORK, NY, June 30, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- iQSTEL Inc. (OTC: IQST), a leading-edge 21st Century Enhanced Telecommunications Service
About this update from Iqstel Inc.
[{"type":"text","content":"NEW YORK, NY, June 30, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- iQSTEL Inc. (OTC: IQST), a leading-edge 21st Century Enhanced Telecommunications Service Provider, is pleased to report two consecutive record revenues for April and May 2020, even with the global impact of COVID-19.\n For the month of April 2020, the revenue surpassed $2.4 Million, a 93% increase when compared to April 2019’s revenue and for May 2020 the company’s revenues soared to $4.4 Million, an increase of 190% vs May 2019. The May 2020 figures include $2.8 Million in prepaid revenues. The year-to-date revenues through May 31st, 2020 reached new highs at $11.9 Million, an increase of over 70% compared to the same year-to-date period for 2019, $6.9 Million. Mr. Iglesias comments, “2020 has brought about the completion of many acquisitions during Q1 and Q2. The drastic jump in revenues is attributed to a combination of existing business growth and acquisition consolidated financials. The current breakdown of revenues across our various product lines is more than 60% from our SMS business, over 35% from our VoIP services and the remainder from our other products and services. More than 55% of our revenue stream is prepaid revenue, giving us a leg up for continued healthy business growth.” “For many companies, COVID-19 has caused significant business reduction, while others have completely shut down, maybe never to reopen. From the start, we built iQSTEL upon a solid foundation. Our business model has provided consistent growth and is proven a success with the latest revenue figures. We are thankful to the entire iQSTEL family for their hard work and dedication and look forward to the future,” added Mr. Iglesias. “Concurrently, we are already working on our 2021 revenue and growth plans. These plans include introducing our IoT Smart Gas Platform (www.iotsmartgas.com) to the market and working on the development of our Blockchain platforms (www.itsBchain.com). Additional exciting plans for Q3 and Q4 2020 will be announced soon,” concluded Mr. Iglesias. About iQSTEL Inc.: iQSTEL Inc (OTC: IQST) www.iQSTEL.com is a US-based publicly listed company offering leading-edge 21st Century Enhanced Telecommunications Services with a focus on a wide range of cloud-based enhanced services to the Tier-1 and Tier-2 carriers, corporate, enterprise, as well as the retail marke...