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 (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.
IDT Corporation (NYSE: IDT) has expanded its BOSS Revolution Money Transfer service to Southern Asia, specifically Nepal and Pakistan, through a partnership with Tranglo. The service allows users to send money fees-free for amounts up to $2,999 until January 31, 2021. Transfers can be sent directly to bank accounts or for cash pickup at various locations, enhancing convenience for customers. This addition increases BOSS Revolution's reach to 320,000 locations across 59 countries, affirming its position in the remittance market.
On December 10, 2020, IDT Express launched a new postpaid billing plan for Direct Inward Dialing (DID) numbers, enhancing its offerings to clients. This plan is designed to provide financial flexibility and global DID coverage, aligning with the increasing demand for virtual numbers in cloud communications. The new service is available in over 70 countries and aims to support diverse business applications, including contact centers and marketing analysis. IDT Express's continued innovation positions it strongly in the wholesale voice sector.
On Dec. 7, 2020, net2phone announced a new integration for Slack, enhancing cloud communication capabilities. The integration simplifies voice calls, video conferencing, and text messaging, streamlining call management with features like intelligent forwarding and optimized caller ID. Users can click-to-call, launch conference calls, and manage voicemails effortlessly. The integration aims to improve collaboration and communication for users worldwide, offering unlimited voice calling to over 40 countries. IDT Corporation, net2phone's parent company, supports this innovative solution.
IDT Corporation (NYSE: IDT) reported a net income of $8.3 million, equating to $0.32 per diluted share, for Q1 FY2021, marking a substantial recovery from a net loss of $1.5 million in Q1 FY2020. The company’s total revenue reached $343 million, up 1% year-over-year, while revenue less direct costs surged 16% to $70 million. Notably, BOSS Revolution Money Transfer and National Retail Solutions exhibited remarkable growth, with revenue increases of 111% and 109%, respectively. Adjusted EBITDA rose 148% to $18.1 million, reflecting strong operational performance.
IDT Corporation (NYSE: IDT) will release its financial and operational results for Q1 FY2021, covering the period ending October 31, 2020, on December 3, 2020. The earnings release will be available at approximately 4:30 PM Eastern on the IDT investor relations website. An earnings conference call is scheduled for 5:30 PM Eastern, where management will discuss results and future strategies, followed by a Q&A session. A replay will be accessible until December 10, 2020. IDT provides fintech, cloud, and traditional communications services.
National Retail Solutions (NRS) has partnered with Catalina, enhancing its digital out-of-home advertising network for independent retailers. This collaboration allows consumer package goods (CPG) brands to leverage NRS' extensive network of over 12,000 screens across 45 states. The partnership aims to improve brand communication in local markets, especially as consumers favor nearby shopping. Additionally, NRS will provide analytics to measure advertising effectiveness, further supporting independent retailers in competing against larger chains.
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?
