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 Corporation will present at the 2021 LD Micro Invitational virtual investor conference on June 8th at 1:30 PM ET. The event will cover recent results and management’s strategy, with a webcast available for attendees. Registration is free of charge. The conference runs from June 8th to 10th and features around 180 companies, each presenting for 25 minutes. IDT will also share its presentation slides on its investor pages during the event.
IDT Corporation reported strong financial results for Q3 FY 2021, with revenue of $374 million, up 16% year-over-year, driven by significant growth in its net2phone-UCaaS and National Retail Solutions segments. The company achieved a net income per diluted share of $1.39, significantly higher than $0.02 in Q3 FY 2020. Adjusted EBITDA increased to $17.9 million, demonstrating operational efficiency. Notable highlights include a 39% rise in net2phone subscription revenue and a remarkable 123% surge in NRS revenue. IDT's cash position remains robust, with $127.6 million in unrestricted funds.
IDT Corporation (NYSE: IDT) will report its financial results for Q3 of fiscal year 2021 on June 3, 2021. The report will cover the three months ending April 30, 2021. The earnings release will be available at approximately 4:30 PM Eastern, followed by a conference call at 5:30 PM Eastern for management to discuss the results and outlook. Investors can participate by dialing the provided numbers. A replay will be available until June 10, 2021 on their investor relations website.
IDT Corporation (NYSE: IDT) has re-launched its mobile service under the brand BOSS Wireless, now operating on T-Mobile's 5G and 4G LTE networks, enhancing coverage and reliability. BOSS Wireless plans start as low as $10 per month and include unlimited calling within the U.S. and to 65 international destinations. Customers benefit from free app-to-app calls over Wi-Fi with the BOSS Revolution Calling app. Plans provide various data options, from 100 MB to 50 GB monthly.
On April 6, 2021, net2phone unveiled net2phone for Salesforce on Salesforce AppExchange, enhancing business communications through data-driven voice capabilities. This integration allows users to initiate calls with a click, automatically populate call data, and customize profiles for improved user experience. The service, available in North and South America, is designed to facilitate unlimited international calls and features advanced call management analytics. The launch aims to make voice communications central to business interactions, according to company leadership.
IDT Corporation (NYSE: IDT) reported a strong second quarter for FY 2021, achieving a net income per diluted share of $0.51 on revenue of $340 million, representing a 5% increase from the previous year. Key highlights include a 15% increase in revenue-less-direct-cost-of-revenue to $71 million, with substantial growth in National Retail Solutions (151%), BOSS Revolution Money Transfer (73%), and net2phone-UCaaS (36%). Adjusted EBITDA rose to $16.3 million from $7.4 million, and income from operations increased significantly to $12.9 million from $1.3 million.
IDT Corporation (NYSE: IDT) is set to report its financial results for Q2 FY2021, covering the period ending January 31, 2021, on March 4, 2021, at 4:30 PM Eastern. An earnings conference call will follow at 5:30 PM Eastern, where management will discuss results, outlook, and strategy, and invite Q&A from investors. Access to the earnings release and conference call details is available through IDT's investor relations website.
On February 8, 2021, net2phone Canada announced its rebranding from Versature, enhancing its unified cloud communications services for Canadian businesses. The company focuses on providing innovative solutions via net2phone's global infrastructure, promoting easy transformation for clients. With features like international calling, enterprise-level integrations, and robust data security, net2phone Canada aims to streamline communications across devices. The rebranding aligns with its mission to empower Canadian firms while ensuring compliance with industry regulations.
IDT Corporation (NYSE: IDT) has revealed a new logo for its flagship service, BOSS Revolution. The update reflects the brand's evolution from a basic international long-distance service launched in 2008 to a comprehensive platform offering various services including international calling, mobile top-ups, and money transfers. BOSS Revolution now provides ultra-clear calls to over 200 countries, mobile top-ups in 90+ countries, and free calls among app users. The company remains committed to innovation and customer service, ensuring that immigrant communities stay connected with loved ones.
net2phone has been recognized as 'A Most Promising Retail Solutions Provider' by CIOReview, highlighting its cloud communications solutions tailored for retail businesses. The company emphasizes its role in enhancing customer communication through VoIP, chat, text, and video conferencing, allowing retailers to connect effectively with customers. Jonah Fink, president of net2phone, noted significant growth in the retail sector as businesses adapt and seek multi-channel customer engagement.
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