IQST - Strong Q3 Revenue Growth Sends Shares Of Telecom Stock Up Over 50% On Day
October 29, 2020 -- InvestorsHub NewsWire -- via Baystreet Staff
-- It is earnings season, which is why there is a deluge of
companies currently reporting their current financial situation.
Some will disappoint, others will surprise to the upside.
Telecommunication and fintech service provider, iQSTEL, Inc.
looks to be in the latter camp with the company announcing today
that they will be reporting $13.2 million in revenue in its
upcoming Q3 financial report, a 17.8% increase over the $11.2
million in revenue reported in Q2. The company set a revenue record
for the month of September reaching $4.5 million.
The company will report a total of $29.3 million in revenue for
the nine months ending September 30, 2020 realizing a 134% increase
over the $12.5 million reported for same period for the previous
year. IQST is a fully reporting company with audited
The Company also reiterated a 2020 $42 million estimated revenue
outlook which was recently published in the Goldman Small Cap
Research Analyst Report earlier this week.
News of the revenue surge excited investors and sent shares of
IQST up 51.87% to $0.1139 in late-morning trading.
Other stocks on the move:
SOURCE: Baystreet Staff