Welcome to our dedicated page for IDT Corporation Class B news (Ticker: IDT), a resource for investors and traders seeking the latest updates and insights on IDT Corporation Class B stock.
IDT Corporation (symbol: IDT) is a leading multinational holding company with diversified operations primarily in the telecommunications and payment industries. Headquartered in Newark, New Jersey, IDT operates through several key business segments: Fintech, National Retail Solutions (NRS), net2phone, and Traditional Communications.
The Fintech segment includes National Retail Solutions, an operator of a nationwide point of sale (POS) network that offers payment processing, digital advertising, transaction data, and ancillary services. It also encompasses BOSS Money, a provider of international money remittance and related value/payment transfer services.
The net2phone segment focuses on unified cloud communications and telephony services aimed at business customers. This segment is crucial for businesses seeking advanced communication solutions that enhance productivity and operational efficiency.
The Traditional Communications segment remains a cornerstone of IDT's operations, contributing a significant portion of the company's revenue. During the fourth quarters of 2023 and 2022, this segment contributed 79.0% and 83.6% of IDT’s consolidated revenue, respectively. For the fiscal years 2023 and 2022, the corresponding contributions were 81.0% and 87.2%, respectively.
IDT Corporation prides itself on its innovative culture and global reach. With a diverse team of over 1,300 employees spread across all continents, the company fosters a dynamic and entrepreneurial environment. IDT encourages in-house entrepreneurs to develop their ideas into actionable business ventures, contributing to its exciting growth trajectory.
Financially, IDT has demonstrated resilience and adaptability. The company's recent financial statements highlight its strong performance across various segments. For instance, the fintech segment, including NRS and BOSS Money, continues to show robust growth, contributing 10.5% of IDT’s consolidated revenue during the third quarter of 2024, up from 7.3% in the third quarter of 2023.
Recent achievements and ongoing projects underscore IDT's commitment to innovation and customer satisfaction. The company's latest initiatives in the fintech space, particularly in enhancing POS network capabilities and expanding remittance services, position it well for future success.
IDT Corporation remains a compelling entity within the telecommunications and payment industries, leveraging its diverse portfolio to drive sustained growth and profitability. For more information or investor inquiries, contact Bill Ulrey, IDT Investor Relations, at william.ulrey@idt.net or (973) 438-3838.
IDT (NYSE: IDT) has announced its participation in the 16th Annual Southwest IDEAS Investor Conference in Dallas, TX. Chief Financial Officer Marcelo Fischer will present on Wednesday, November 20th from 11:30 to 12:05 Central Time at The Statler.
The presentation will be accessible via webcast through the conference website and IDT's investor relations portal. Fischer will also conduct meetings with conference participants throughout the day.
IDT operates through multiple business segments including National Retail Solutions (NRS), BOSS Money, net2phone, IDT Digital Payments, and IDT Global, providing fintech, cloud communications, and traditional communications services globally.
NRSInsights reported October 2024 same-store sales increased 3.7% year-over-year, with the NRS retail network comprising approximately 33,100 active terminals nationwide. Key metrics show units sold increased 2.8% YoY, while transactions per store rose 1.6% YoY. Average prices for top 500 items increased 1.9% YoY, down from September's 2.1% increase.
The network processed $1.8 billion in sales (+20% YoY) across 131 million transactions (+17% YoY) in October. Beverage sales were notably strong, with Energy Beverages breaking a six-month decline trend. However, candy sales continued to decrease through the Halloween season compared to the previous year.
NRSInsights released its September 2024 Retail Same-Store Sales Report, revealing a 2.2% year-over-year increase in same-store sales. Key highlights include:
- Units sold increased 2.9% year-over-year
- Average transactions per store rose 0.8% year-over-year
- Average prices for top 500 items increased 2.1% year-over-year
The NRS retail network comprised approximately 32,700 active terminals nationwide as of September 30, 2024. Notable trends include sales declines in categories like Chocolate and Confection, Vape, and Energy Drinks, while Smokeless Tobacco, Tequila, and Prepared Cocktails showed robust growth. Geographically, stores in New York, New Jersey, and Pennsylvania experienced significant year-over-year gains, while Florida and Georgia saw sales declines due to Hurricane Helene.
IDT (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications solutions, has announced it will report its financial and operational results for the fourth quarter and fiscal year 2024 on Tuesday, October 8, 2024. The earnings release will be available on IDT's investor relations website at approximately 4:30 PM Eastern. An earnings conference call will follow at 5:30 PM Eastern, featuring management's discussion and a Q&A session.
To participate, investors can dial 1-888-506-0062 (US toll-free) or 1-973-528-0011 (international) using the access code 126998. A replay will be available until October 22, 2024, accessible by phone or streaming audio on IDT's investor relations website.
NRSInsights released its August 2024 Retail Same-Store Sales Report, showing a 5.1% year-over-year increase in same-store sales. Key highlights include:
- Units sold increased 4.7% year-over-year
- Average transactions per store rose 1.8% year-over-year
- Average prices for top 500 items increased 3.5% year-over-year
The report noted strong growth in back-to-school categories and baking supplies. NRS' network comprises 32,300 active POS terminals in approximately 28,100 independent retail stores, processing $19.8 billion in sales through 1.4 billion transactions in the past 12 months.
net2phone, a leading provider of intelligent communications-as-a-service, has unveiled a new interface for its Unite business communications platform. The update introduces a single-pane-of-glass view that allows users to manage all communications from one screen, including voice, video meetings, and messaging. This enhancement makes it easier for users to engage whether in the office, working remotely, or on-the-go.
The platform now features AI-powered instant call summaries and transcriptions, as well as internal team chat capabilities. These new tools complement existing features such as unlimited domestic and international calling, call recording, video conferencing, and SMS/MMS text messaging. The update aims to enhance workflows, collaboration, and overall communication effectiveness for businesses.
NRSInsights released its July 2024 Retail Same-Store Sales Report, revealing a 1.2% year-over-year increase in same-store sales. Key highlights include:
- Unit sales increased 2.2% from July 2023
- Average transactions per store decreased 0.6% year-over-year
- Prices for top 500 items increased 2.5% year-over-year
- Three-month same-store sales (May-July 2024) increased 3.0% compared to 2023
The NRS network comprised 32,100 active terminals nationwide as of July 31, 2024. Notable trends included growth in Tequila, Prepared Cocktails, and Non-Alcoholic Beer sales, while Energy Drinks and Vape sales declined. Hurricane Beryl impacted sales in Texas markets. The report is based on approximately 194 million transactions from 18,700 stores.
NRSInsights reported a 5.1% year-over-year increase in June 2024 same-store sales. The NRS network comprises 31,400 active POS terminals, predominantly serving urban consumers. Unit sales grew by 5.5%, and the average number of transactions per store rose by 2.8%. However, the average price increase for top products moderated to 1.1%, down from 1.6% in May. Seasonal categories like Sun Care and Packaged Beverages showed strong performance, while Candy/Gum/Mints and Tobacco Alternatives/Vape underperformed. The NRS network outpaced the US Commerce Department’s retail trade data excluding food services by an average of 2.7 percentage points over the past year.
NRSInsights has announced that May 2024 same-store sales rose 4.7% year-over-year. The NRS retail network, consisting of around 30,800 POS terminals, showed an increase in the number of items sold and transactions per store. Price increases for top items were noted. The beverage category saw significant growth except for energy and sports drinks. High-protein food items continue to gain popularity. The NRS POS network outperformed the US Commerce Department’s retail data by 3% over the past 12 months. NRS processed $18.8 billion in sales through 1.3 billion transactions in the past year.
IDT reported its Q3 FY2024 results, highlighting significant growth across its business segments. National Retail Solutions (NRS) saw recurring revenue climb by 45%, while net2phone's subscription revenue grew 17%. BOSS Money transactions increased by 44%, driving a 42% revenue increase in the fintech segment. However, consolidated revenue remained almost flat at $299.6 million, with net income falling to $5.6 million from $6.9 million due to higher tax rates and currency losses. Gross profit grew by 11% to $97.0 million, with a gross profit margin of 32.4%. EPS decreased to $0.22 from $0.27, while non-GAAP EPS fell to $0.38 from $0.46. The company repurchased 68,846 shares for $2.5 million during the quarter. IDT also announced a $0.05 dividend per share for the quarter.
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