iQSTEL Inc. On Track To Exceed $40 Million In Total Revenues In 2020, April And May Reve-nues Jumped 93% And 190% Respectively Over 2019; YTD 2020 Sales Through May Leaped 70%+ Vs. 2019
iQSTEL Inc. (OTC: IQST) announced today (June 30, 2020) that its sales are on track to exceed $40 Million In 2020 based on its quick growth in organic and aggressive acquisitions in the telecommunications industry. YTD numbers through May 2020 showed a 70%+ leap to $11.9 million compared to $6.9 million the same period in 2019. In April 2020, the company exceeded $2.4 million, a 93% spike in sales when compared to the same month in 2019. In May 2020 company sales rose to $4.4 million, a whopping 190% boom from May 2019. The May 2020 numbers include $2.8 million in prepaid revenues.
Media companies such as Stock Market Press are reporting on the fast growing telecommunications market. It keeps readers up to date on company stocks such as iQSTEL Inc. (OTC: IQST), amazon.com (NASDAQ: AMZN), Alphabet Inc. (NASDAQ: GOOGL), Apple Inc. (NASDAQ: AAPL), T-Mobile US (NASDAQ: TMUS),Ericsson (NASDAQ: ERIC), DISH Network Corporation (NASDAQ: DISH), Nokia Corporation (NYSE: NOK), Liberty Global (NASDAQ: LBTYA), Vodafone Group PLC (NASDAQ: VOD), Telefónica SA (NYSE: TEF), Samsung Electronics Co. Ltd. (OTC: SSNLF), Motorola Solutions, Inc. (NYSE: MSI), China Mobile Limited (NYSE: CHL),Verizon (NYSE: VZ) and AT&T Inc. (NYSE: T).
iQSTEL Inc. (OTC: iQST) On Track To Exceed $40 Million In Total Revenues In 2020, April And May Sales Jumped 93% And 190% Respectively Over 2019; YTD 2020 Sales Through May Leaped 70%+ Vs. 2019
Mr. Iglesias, CEO of iQSTEL Inc. (OTC: iQST), said, “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.” iQSTEL Inc. (OTC: iQST) On Track To Exceed $40 Million In Total Revenues In 2020, April And May Sales Jumped 93% And 190% Respectively Over 2019; YTD 2020 Sales Through May Leaped 70%+ Vs. 2019.
Completion Of Many Acquisitions During Q1 And Q2
Mr. Iglesias of iQSTEL added, “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.” iQSTEL Inc. (OTC: iQST) On Track To Exceed $40 Million In Total Revenues In 2020, April And May Sales Jumped 93% And 190% Respectively Over 2019; YTD 2020 Sales Through May Leaped 70%+ Vs. 2019.
Building On A Solid Foundation
He also addressed the impact of COVID-19. Mr. Iglesias said, “For many companies, COVID-19 has caused significant business reduction, while others have completely shutdown, 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.” iQSTEL Inc. (OTC: iQST) On Track To Exceed $40 Million In Total Revenues In 2020, April And May Sales Jumped 93% And 190% Respectively Over 2019; YTD 2020 Sales Through May Leaped 70%+ Vs. 2019.
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 has acquired IoT Labs Mexico and its star product, the IoT Smart Gas Platform.
Source: Stock Market Press
Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.
Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.
Stock Market Press
110 Wall St.
New York, NY 10005 firstname.lastname@example.org
Safe Harbor Statement: Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press