(NewsDirect)
McapMediaWire --iQSTEL, Inc. (OTCQX: IQST) today announced the company’syear-to-date (YTD) revenue for its Telecom Division through Feb28 th is $16.4 million (unaudited), an increase of 25%compared to $13.1 million for the same period in 2022.
Considering that thecompany’s revenue stream is historically higher in the second halfof the year, management is confident the YTD performance is on trackto reach the company’s $105 million annual revenue forecastorganically before the benefit of sales from new lines of business andbefore the benefit of any anticipated contribution fromacquisitions.
Management is also confident the company is on track to report Positive Consolidated Operating Income in 2023 for the entirePubCo as a result of the ongoing benefit of operationalstreamlining and the anticipated benefit from iQSTEL’s newer linesof business to include its Electric Vehicle, Fintech and Internet ofThings (IoT) Divisions.
“iQSTEL continues into 2023 to realize steady and exceptionalgrowth,” said Leandro Iglesias, CEO of iQSTEL. “After reaching $93million in revenue in FY-2022, we are already realizing 25% growth YTDthrough Feb 28 th this year compared to the same period in2022. Our 2023 financial objectives are well withing our sites as ourproducts and services gain more and more recognition within theirrespective markets.”
Stay tuned for regular shareholder updates.
About iQSTELInc.:
iQSTELInc. (OTCQX: IQST) ( www.iQSTEL.com )is a US-based publicly listed company holding an Independent Board ofDirectors and Audit Committee with a presence in 19 countries and 70employees offering leading-edge services through its four businesslines. The Telecom Division (www.iqstelecom.com), which represents themajority of current operations, offers VoIP, SMS, proprietary Internetof Things (IoT) solutions, and international fiber-optic connectivitythrough its subsidiaries: Etelix, SwissLink, Smartbiz, Whisl, IoTLabs, and QGlobal SMS. The Fintech business line ( www.globalmoneyone.com )( www.maxmo.vip )offers a complete Fintech ecosystem MasterCard Debit Card, US BankAccount (No SSN Needed), Mobile App/Wallet (Remittances, Mobile TopUp). Our Fintech subsidiary, Global Money One, is to provideimmigrants access to reliable financial services that make it easierto manage their money and stay connected with their families backhome. The BlockChain Platform Business Line ( www.itsbchain.com )offers our proprietary Mobile Number Portability Application (MNPA) toserve the in-country portability needs through its subsidiary,itsBchain. The Electric Vehicle (EV) Business Line ( www.evoss.net )offers electric motorcycles to work and have fun in the USA, Spain,Portugal, Panama, Colombia, and Venezuela. EVOSS is also working onthe development of an EV Mid Speed Car to serve the niche of the 2ndcar in the family.
Safe Harbor Statement: Statements in this news release may be"forward-looking statements". Forward-looking statementsinclude, but are not limited to, statements that express ourintentions, beliefs, expectations, strategies, predictions, or anyother information relating to our future activities or other futureevents or conditions. These statements are based on currentexpectations, estimates, and projections about our business basedpartly on assumptions made by management. These statements are notguarantees of future performance and involve risks, uncertainties, andassumptions that are difficult to predict. Therefore, actual outcomesand results may and are likely to differ materially from what isexpressed or forecasted in forward-looking statements due to numerousfactors. Any forward-looking statements speak only as of the date ofthis news release, and iQSTEL Inc. undertakes no obligation to updateany forward-looking statement to reflect events or circumstances afterthe date of this news release. This press release does not constitutea public offer of any securities for sale. Any securities offeredprivately will not be or have not been registered under the Act andmay not be offered or sold in the United States absent registration oran applicable exemption from registration requirements.
iQSTELInc.
IR USPhone: +1 646-740-0907
IR Email: investors@iqstel.com
Company Website: https://www.iqstel.com/
ContactDetails
iQSTEL Inc.
+1 646-740-0907
CompanyWebsite
Copyright (c) 2023 TheNewswire - All rights reserved.