iQSTEL, Inc.’s Net Income Reaches ‘Major Milestone’ Of $426,419 in Q2 2020 With All Operat-ing Subsidiaries Reporting Positive Net Income, Revenues Surpass $11+ Million
iQSTEL, Inc. (OTC: IQST) announced today (July 29, 2020) its net income reached a record $426,419 for Q2 2020 with all of its operating subsidiaries reporting positive net income. Volume for the Q2 2020 period was $11+ million. In the telecommunications field, iQSTEL, Inc. (OTC: IQST) is defining a position for itself with innovative new services, a global geographic footprint and a growing list of subsidiaries.
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iQSTEL, Inc.’s s (OTC: IQST) Net Income Reaches ‘Major Milestone’ Of $426,419 in Q2 2020 With All Operating Subsidiaries Reporting Positive Net Income, Revenues Surpass $11+ Million
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.”
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. Total Q2 2020 sales were $11,130,924, the company announced, with a total Gross Profit of $732,308. iQSTEL, Inc.’s s (OTC: IQST) Net Income Reaches ‘Major Milestone’ Of $426,419 in Q2 2020 With All Operating Subsidiaries Reporting Positive Net Income, Revenues Surpass $11+ Million.
The Outlook For Sales In Q3 ND Q4 Is Seen As ‘Very Exciting” By Mr. Iglesias, CEO of iQSTEL, Inc.(OTC: IQST)
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.” iQSTEL, Inc.’s s (OTC: IQST) Net Income Reaches ‘Major Milestone’ Of $426,419 in Q2 2020 With All Operating Subsidiaries Reporting Positive Net Income, Revenues Surpass $11+ Million.
Sales Also Spiked 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. iQSTEL, Inc.’s s (OTC: IQST) Net Income Reaches ‘Major Milestone’ Of $426,419 in Q2 2020 With All Operating Subsidiaries Reporting Positive Net Income, Revenues Surpass $11+ Million.
iQSTEL, Inc. (OTC: IQST) Grows 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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