iQSTEL (OTC: IQST) is pleased to provide the latest figures from Q2 2020 for our operating subsidiaries.
iQSTEL Inc. (OTCMKTS:IQST)NEW YORK, NY, UNITED STATES, July 29, 2020 /EINPresswire.com/ -- iQSTEL ($IQST) Announce Q2 Revenues Reach Record $11M with Operating Subsidiaries in Quarter Net Income Surpassing $420K
(Investorideas.com Newswire) Breaking Tech/ Telecom Stock News- iQSTEL (OTC: IQST), a leading-edge 21st Century Enhanced Telecommunications Service Provider, is pleased to provide the latest figures from Q2 2020 for our operating subsidiaries.
iQSTEL’s overall revenues for Q2 2020 surpassed the $11M mark and the net income broke past the $420K mark. The company continues on track to reach further record revenues/income figures as well as new acquisitions throughout the rest of 2020.
As seen in the included spreadsheet image (full details in the forthcoming Q2 filing), our operating subsidiaries all had positive Net Income:
Company Etelix SwissLink Qglobal IoT Labs Operating Total
Commercial Brand Etelix SwissLink Qglobal Miami Qglobal Austin
Services VoIP VoIP SMS SMS VoIP + SMS
Revenues $ 3,402,887 $ 1,183,088 $ 163,546 $ 6,381,403 $ 11,130,924
Gross Profit $ 304,665 $ 171,760 $ 61,316 $ 194,567 $ 732,308
Expenses $ 104,793 $ 160,372 $ 25,651 $ 15,074 $ 305,889
EBITBA $ 225,835 $ 20,969 $ 35,665 $ 179,494 $ 461,963
Net Income $ 199,872 $ 11,388 $ 35,665 $ 179,494 $ 426,419
Does NOT Include the Expenses nor Costs of our PubCo Holding iQSTEL Inc
“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.” commented Mr. Iglesias, iQSTEL Inc’s CEO.
About iQSTEL Inc.:
iQSTEL Inc (OTC: IQST) www.iQSTEL.com is a US-based publicly listed company offering leading-edge 21st Century Enhanced Telecommunications Services with a focus on a wide range of cloud-based enhanced services to the Tier-1 and Tier-2 carriers, corporate, enterprise, as well as the retail market. iQSTEL through its subsidiaries Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, IoT Smart Gas Platform, itsBchain offers a "one-stop-shopping” for international and domestic VoIP services, IP-PBX services, SMS exchange for A2P and P2P, OmniChannel Marketing, Internet of Things (IoT) applications (IoT Smart Gas Platform), 4G & 5G international infrastructure connectivity, as well as blockchain-based platforms: Mobile Number Portability Application (MNPA) and Settlement & Payments Marketplace for VoIP, SMS and Data.
About Etelix.com USA, LLC:
Etelix.com USA LLC www.etelix.com.
About SwissLink Carrier AG:
SwissLink Carrier AG www.swisslink-carrier.com
About QGlobal SMS LLC.:
QGlobal SMS LLC www.qglobalsms.com
About Alcyon Cloud SMS S.A.S (Commercial Brand SMSDirectos.com ):
Alcyon Cloud SMS S.A.S. (Commercial Brand SMSDirectos.com)
About IoT Labs MX SAPI:
IoT Labs MX SAPI www.iotlabs.mx
About itsBchain LLC.:
itsBchain LLC www.itsBchain.com
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 iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
IR US Phone: 646-740-0907, IR Email: firstname.lastname@example.org
Source: iQSTEL Inc. and its subsidiaries:
www.iqstel.com ; www.etelix.com ; www.swisslink-carrier.com ; www.qglobalsms.com ; www.smsdirectos.com ; www.iotlabs.mx ; www.iotsmartgas.com ; www.itsBchain.com
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