IQSTEL, Inc. (OTCQX: IQST) Reports 25% Jump In Telecom Division’s $16.4 Million Revenue YTD Through February 28; IQST Says YTD Performance Is ‘On Track’ To Meet Its $105 Million Annual Forecast Organically And CEO Is Confident Its 2023 Financial Objectives ‘Are Well Within Our Sights’
iQSTEL, Inc. (OTCQX: IQST) reports 25% jump in Telecom Division’s $16.4 million (unaudited) revenue YTD through February 28, compared to $13.1 million for the comparable period in 2022. Leandro Iglesias, CEO of IQSTEL, says Company is already realizing 25% growth YTD through February 28 and its 2023 financial objectives are ‘within sight’ as its products and services gain more recognition within their respective markets. He adds that IQST’s performance is ‘on track’ to meet its $105 million 2023 annual forecast organically and meeting its goal of positive consolidated operating income for the entire PubCo.
Stock Market Press is reporting on the fast growing 5G telecommunications market by keeping readers up-to-date on such company stocks as iQSTEL Inc. (OTC: IQST),Verizon (NYSE: VZ), AT&T Inc. (NYSE: T), T-Mobile US (NASDAQ: TMUS), Sprint (NYSE: S), Ericsson (NASDAQ: ERIC) in 5G networks. Also covered are trends by semiconductor manufacturers Qualcomm (NASDAQ: QCOM), Qorvo (NASDAQ: QRVO) and Skyworks Solutions (NASDAQ: SWKS), among others.
IQST says that considering the Company’s revenue stream is historically higher in the second half of the year, management is confident the YTD performance is ‘on track’ to reach the company’s $105 million annual revenue forecast organically. This is before the benefit of sales from any new lines of business and before the benefit of any anticipated contribution from acquisitions.
Leandro Iglesias, CEO of IQST, says, “IQSTEL continues into 2023 to realize steady and exceptional growth. After reaching $93 million in revenue in FY 2022, we are already realizing 25% growth YTD through February 28 this year compared to the same period in 2022.”
Management of the Company is also confident that IQSTEL is on track to report Positive Consolidated Operating Income in 2023 for the entire PubCo. Operational streamlining and the anticipated benefit from IQSTEL’s newer lines of business will benefit the Company from its Electric Vehicles, Fintech and Internet of Things (IoT) Divisions.
iQSTEL, Inc. (OTCQX: IQST) has been aggressive in expanding its Telecom, IoT and Fintech Divisions as it acquires new subsidiaries and consolidates businesses and grows its international exposure and share in the international marketplace. Expanding its global footprint on numerous technical fronts, means iQSTEL, Inc. (OTCQX: IQST) is gaining share in several businesses simultaneously.
It has acquired companies, consolidated businesses into its own infrastructure and debuted new technology platforms such as IoTSmartGas and IoTSmartTank. It has integrated www.iotlabs.mx IoT into its own business and acquired two new telecom subsidiaries, Whisl and Smartbiz. They complete a comprehensive platform for the US, Latin America and Transatlantic markets, the Company said.
Source: Stock Market Press
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