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.
BOSS Money, IDT 's (NYSE: IDT) remittance brand, announced holiday promotions featuring zero-fee money transfers. New customers can enjoy five free transfers to Mexico and two free transfers to other destinations when using debit cards or bank accounts through their apps. Existing customers will receive a promo code for two free transfers between December 20-25.
The company expanded payout options, enabling direct transfers to bank-issued debit cards in Dominican Republic, Guatemala, Honduras, Jamaica, and Philippines. Additionally, customers can now transfer to mobile wallets in Mexico (Bankaya, Mercado Pago, Spin by Oxxo, Techreo) and Peru (Yape). November marked their busiest month ever, surpassing May's Mother's Day performance with strong growth in customers and transactions.
NRSInsights reported strong retail performance for November 2024, with same-store sales increasing 6.6% year-over-year, up from October's 3.7% growth. The network, comprising 33,600 active terminals across 29,200 independent retailers, showed positive trends across multiple metrics:
- Units sold increased 4.5% year-over-year
- Average transactions per store rose 3.2% year-over-year
- Average prices for top 500 items increased 3.9%
The platform processed $1.8 billion in sales (+23% YoY) across 124 million transactions. Beverages showed strong performance, with Energy Drinks returning to growth after months of decline. Chocolate reversed its downward trend, showing growth in both dollars and quantity.
IDT (NYSE: IDT) reported strong Q1 FY2025 results with significant growth across key metrics. Consolidated revenue increased 3% to $309.6 million, while income from operations jumped 38% to $23.6 million. The company achieved record levels of gross profit, margin, and Adjusted EBITDA.
Key segment highlights include: NRS recurring revenue grew 29% to $28.9 million; BOSS Money revenue increased 39% to $33.7 million; and net2phone subscription revenue rose 13% to $21.0 million. Traditional Communications revenue decreased 4% to $220.5 million, though income from operations increased 2%.
The company's net income attributable to IDT increased 125% to $17.2 million, with GAAP EPS rising to $0.68 from $0.30. As of October 31, 2024, IDT held $180.4 million in cash, cash equivalents, debt securities, and current equity investments.
IDT (NYSE: IDT) has announced it will release its first quarter fiscal year 2025 financial results on December 4, 2024. The earnings release will be posted at 4:30 PM Eastern, followed by an earnings conference call at 5:30 PM Eastern. The company will host a Q&A session for investors, accessible via toll-free numbers. A replay will be available until December 18, 2024. 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 solutions.
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.
FAQ
What is the current stock price of IDT Corporation Class B (IDT)?
What is the market cap of IDT Corporation Class B (IDT)?
What does IDT Corporation specialize in?
How does the Traditional Communications segment contribute to IDT's revenue?
What services does the Fintech segment of IDT Corporation provide?
Who can I contact for investor relations at IDT Corporation?
What recent achievements has IDT Corporation made?
How many employees does IDT Corporation have?
What services does net2phone offer?
How does IDT Corporation encourage innovation?
What is BOSS Money?
Where is IDT Corporation headquartered?
