iQSTEL, Inc. Reports 20% Rise In Q1 Revenues To $5 Million, Sales From Businesses And Stay-At-Home Strategy Strong During COVID-19 Pandemic
iQSTEL, Inc. (OTC: IQST) today (May 7, 2020) announces record setting growth continuing in 2020 with a 20% jump in year-over-year Q1 revenues to $5 million due in part to a ‘very strong’ performance through the COVID-19 pandemic. Many businesses extended their work-from-home strategy — boosting intra-company telco services. iQSTEL expects this trend to continue. It reported sales of $4,980,151 for the current quarter, exclusive of sales from new Miami-based subsidiary QGlobal SMS. It projects sales including those of QGlobal SMS at $9+ million for Q2.
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), Motorola Solutions, Inc. (NYSE: MSI), China Mobile Limited (NYSE: CHL),Verizon (NYSE: VZ), AT&T Inc. (NYSE: T), T-Mobile US (NASDAQ: TMUS) and Ericsson (NASDAQ: ERIC), HIVE Blockchain Technologies Ltd. ( (OTC: HVBTF) and Long Blockchain Corp. (OTC: LBCC). Also covered are trends by semiconductor manufacturers Qualcomm (NASDAQ: QCOM), Qorvo (NASDAQ: QRVO) and Skyworks Solutions (NASDAQ: SWKS), among others.
iQSTEL, Inc. (OTC: IQST) Reports 20% Rise In Q1 Revenues To $5 Million, Sales From Businesses And Stay-At-Home Strategy Strong During COVID-19 Pandemic
The QGlobal SMS performance was not included in iQSTEL, Inc.’s (OTC: IQST) Q1 numbers because of subsidiary formation. Instead, those figures will be included in the parent company’s Q2 totals when $9+ million revenues are forecast. On a yearly basis, QGlobal SMS volume is estimated at some $30 million, the company said.
iQSTEL, Inc. (OTC: IQST) Sees Trend Continue As The ‘New Normal’
Mr. Iglesias, CEO of iQSTEL, Inc. (OTC: IQST), said, “Our team at iQSTEL and subsidiaries bring record results again. While the COVID-19 near-global-closure has affected many companies’ ability to operate, we continue to surpass expectations. Our business has stayed very strong through the COVID-19 pandemic as many businesses have expanded their work-from-home strategy, thus boosting intra-company telco services.
“Even though our main clients are carriers, the bulk of the underlying business is corporate. We expect this trend to continue in the coming months and even becoming part of the ‘new normal’ we’ll be seeing as the economy adapts going forward,” he said.
iQSTEL (OTC: IQST) Providing Vital Telecommunications Role During COVID-19 Pandemic
Firms such as iQSTEL (OTC: IQST) and others are also providing health care professionals unprecedented communications speed and telemedicine options for first line doctors and nurses. 5G communications firms, like iQSTEL (OTC: IQST), are providing important network benefits during the coronavirus pandemic.
Earlier, Mr. Iglesias, CEO of iQSTEL (OTC: IQST), said, “5G communications, along with IoT (Internet of Things) and other 5G-centric technologies, have already been providing significant benefits worldwide, that can be used in such situations as the current COVID-19 pandemic, allowing doctors to participate in real-time patient diagnostics and remote surgeries, among countless other benefits.
“It’s in these times that we are reminded how important the work we really do, really is,” he said. “Our network is currently being used by doctors, nurses reaching out to the affected public, allowing other patients to be treated by phone, while in some cases giving life-saving guidance and advice to others. Also, by the very many families desperately seeking to connect with their loved ones in the times of uncertainty, it is in these moments that we realize how important our job is and how proud we are to be ale to serve our customers,” he said.
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.
Source: Stock Market Press
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