As iQSTEL, Inc. Grows, All Its Operating Subsidiaries Generate Positive Net Income For Fast Expanding Parent Telecommunications Company
iQSTEL, Inc. (OTC: IQST) is a unique telecommunications company because its diverse network of operating subsidiaries each contribute a positive net income to the parent. For Q2 2020, the four subsidiaries — Etelix, SwissLink, QGlobal and IoT Labs — each contributed positive net income to iQSTEL, Inc.’s (OTC: IQST) total net profit of $426,419 and total volume of $11,130,924 for the period. Located in Europe, Latin America, U.S. or Mexico, each of these subsidiaries was a positive contributor to the winning corporate performance.
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As iQSTEL, Inc. (OTC: IQST) Grows, All Its Operating Subsidiaries Generate Positive Net Income For Fast Expanding Parent Telecommunications Company
iQSTEL, Inc.(OTC: IQST) subsidiaries reported the following positive Net Income: Etelix, $199,872; SwissLink, $11,388; QGlobal, $35,665; IoT Labs, $179,494. The Q2 2020 total for the Company was positive Net Income of $426,419. Combined, total Q2 2020 Company sales were $11,130,924 with a total Gross Profit of $732,308. The performance numbers exhibited enormous bench strength in positive net income from every subsidiary. As iQSTEL, Inc. (OTC: IQST) Grows, All Its Operating Subsidiaries Generate Positive Net Income For Fast Expanding Parent Telecommunications Company.
Combination Of Acquisitions And Organic Corporate Growth Works Well
Mr. Iglesias, CEO of iQSTEL, Inc. (OTC: IQST), said, “The tremendous growth we have seen in 2020 continues despite COVID-19’s global economic impact. Further proof that our business model, a combination of corporate growth and acquisitions, is working very well. All of our operating subsidiaries just reached a major milestone, going Net Income positive. Our management experience in Telecom Operations has been key in the achievement of these results. We look forward to fantastic Q3 and Q4’s as we anticipate further corporate and subsidiary developments leading in to 2021.” As iQSTEL, Inc. (OTC: IQST) Grows, All Its Operating Subsidiaries Generate Positive Net Income For Fast Expanding Parent Telecommunications Company.
Sales Jumped For iQSTEL (OTC: IQST) In Q1 2020
The new report of Q2’s 2020 fantastic revenue gains follows the iQSTEL, Inc. (OTC: IQST) record setting 20% jump in year-over-year Q1 revenues to $4,980,151. The performance of key subsidiary QGlobal SMS was scheduled to be booked in the second quarter of the year. At that time, the company projected its sales would reach $9+ million in Q2. Instead, it achieved Q2 2020 volume of greater than $11 million — shattering that estimate. The organic and acquisition growth by iQSTEL (OTC: IQST) for the period was reported by the Company in an SEC filing, with complete financial results and in-depth filing once the 10Q file is completed, the company said.
Mr. Iglesias, CEO of iQSTEL, Inc.(OTC: IQST) Sees Exciting Q3 And Q4
Mr. Iglesias, CEO of iQSTEL, Inc.’s (OTC: IQST), said, “June 2020 revenues jumped 190%, driving the Q2 increase, with sales of greater than $4.2 million compared to $1.44 million in June 2019. Mr. Iglesias, CEO, said, “Q3 and Q4 are lining up to be very exciting and we look forward to providing updates as we reach new milestones.” As iQSTEL, Inc. (OTC: IQST) Grows, All Its Operating Subsidiaries Generate Positive Net Income For Fast Expanding Parent Telecommunications Company.
iQSTEL, Inc. (OTC: IQST) Expands Network Of Subsidiaries
The parent company owns a 75% stake in blockchain subsidiary itsBchain LLC, iQSTEL Inc. (OTC: IQST) wholly owns Miami-based subsidiary, Etelix.com USA, LLC, an American-based 5G provider of Submarine Fiber Optic Network capacity for internet (4G and 5G). It owns 51% of SwissLink Carrier AG. SwissLink Carrier AG provides international VoIP connectivity worldwide and more. It owns 51% of QGlobal SMS LLC, a U.S.-based company which has international interconnection with Tier 1 SMS aggregators to more than 100 countries worldwide. It has acquired 51% of an Austin, Texas-based SMS U.S.-Mexico Service provider. Most recently it acquired IoT Labs MX SAPI. This Internet of Things (IoT) company is the creator of the “IoT Smart Gas” platform and application.
Source: Stock Market Press
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