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IDT Corporation Class B - IDT STOCK NEWS

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.

News

NRSInsights’ February 2024 Retail Same-Store Sales Report

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NRSInsights reported a 3.5% year-over-year increase in same-store sales for February 2024, with Western states seeing significant gains due to winter storms. Average prices rose by 1.2% year-over-year. Retailers in Arizona, Montana, and Wyoming led in sales growth. The number of items sold and transactions increased compared to the previous year. The data also showed a rise in the dollar-weighted average of prices for top items purchased.
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IDT Corporation Reports Second Quarter Fiscal Year 2024 Results

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IDT Corporation (NYSE: IDT) reported its second-quarter fiscal year 2024 results, showcasing steady financial performance with a GAAP EPS of $0.57 and a Non-GAAP EPS of $0.67. The company's cash, cash equivalents, debt securities, and current equity investments totaled $177.6 million. IDT also initiated a quarterly dividend of $0.05 per share of Common Stock.
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SharedFi, the WiFi Money Making App From WaveMAX, to Partner With Zendit and PagaPhone to Offer Mobile Top-ups and eSIMs

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WaveMAX Corporation relaunches SharedFi app for WiFi sharing and monetization, partnering with IDT Corporation's Zendit for mobile top-ups and eSIMs. PagaPhone in Mexico to be the first MVNO partner. The initiative aims to create synergies and offer a revenue-sharing business model.
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IDT Corporation to Report Second Quarter Fiscal 2024 Results

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IDT Corporation (NYSE: IDT) announces the release of its financial and operational results for the second quarter of fiscal year 2024. The earnings report will be available on the investor relations website, followed by an earnings conference call for investors.
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NRS Digital Media Launches StrataSelect

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NRS Digital Media Launches StrataSelect, a Hyper-Targeting In-Store Retail Media Solution, Enhancing Brand Campaigns with Data-Driven Store Targeting
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Zendit Extends Global Prepaid Platform with eSIM Initiative

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Zendit, a prepaid-as-a-service business of IDT Corporation, will unveil its eSIM initiative at Mobile World Congress 2024 in Barcelona, offering a cost-effective global data connectivity solution. The global eSIM market is projected to reach $44 billion by 2032, with Zendit providing a platform for developers to enter this expanding market.
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net2phone Unveils Global Connect

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net2phone, a leading provider of intelligent communications-as-a-service, has launched its Global Connect service, offering multinational businesses an enterprise-grade cloud connectivity solution that reduces connectivity costs and simplifies voice connectivity administration. The service is designed to enable organizations to shed their costly local voice connectivity services and achieve substantial cost savings, while also enhancing productivity and streamlining the payables process. Global Connect operates across six continents and is offered by net2phone, a subsidiary of IDT Corporation (NYSE: IDT), which terminates over nine billion international long distance minutes per year to over 200 countries.
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NRSInsights’ January 2024 Retail Same-Store Sales Report

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NRSInsights reported a 1.4% increase in same-store sales at NRS retailers in January 2024 compared to January 2023. The average sales per calendar day decreased by 10.0% from December 2023, reflecting the seasonal impact of robust holiday sales in December. The average prices for the most popular items sold in January increased by 0.3% year-over-year. The report also highlighted trends in consumer spending, product categories, and inflationary pressures.
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NRSInsights’ December 2023 Retail Same-Store Sales Report

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NRSInsights (NRS) reported a 5.5% increase in same-store sales for December 2023 compared to December 2022. The average sales per calendar day increased by 5.3% compared to November 2023. The NRS retail network, consisting of approximately 28,300 active terminals, experienced a 3.4% increase in same-store sales for the three months ended December 31, 2023, compared to the same period in 2022. The number of items sold increased by 7.4% compared to December 2022, and the average number of transactions per store increased by 5.1% compared to the same period last year. The dollar-weighted average of prices for the top 500 items purchased in December 2023 increased by 1.2% year-over-year. NRS retailers have consistently outperformed the U.S. retail sector, reflecting the important roles these retailers play within their urban communities and the loyalty of their customers.
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BOSS Money Reports Strong Remittance Topline Increase over the Christmas Holiday Season

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BOSS Money, the money transfer service of IDT Corporation (NYSE: IDT), experienced a 56% increase in revenue during the eleven days leading up to Christmas Day 2023 compared to the same period in the previous year. The company attributes this growth to low fees, favorable exchange rates, and exceptional customer experience through their apps and retailers. Transaction volumes also increased by 39%, and the company expects to maintain revenue and transaction year-over-year growth rates over 30% in the coming months. BOSS Money offers affordable, reliable remittances for residents of the U.S. and Canada to 48 countries, with a disbursement network of over 243,000 cash pick-up locations, mobile money, in-country bank account, and debit card direct deposit services.
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FAQ

What is the current stock price of IDT Corporation Class B (IDT)?

The current stock price of IDT Corporation Class B (IDT) is $48.08 as of December 20, 2024.

What is the market cap of IDT Corporation Class B (IDT)?

The market cap of IDT Corporation Class B (IDT) is approximately 1.2B.

What does IDT Corporation specialize in?

IDT Corporation specializes in telecommunications and payment industries through various business segments including Fintech, National Retail Solutions, net2phone, and Traditional Communications.

How does the Traditional Communications segment contribute to IDT's revenue?

The Traditional Communications segment significantly contributes to IDT’s revenue, accounting for 79.0% of the consolidated revenue during 4Q23 and 83.6% during 4Q22.

What services does the Fintech segment of IDT Corporation provide?

The Fintech segment provides services such as payment processing, digital advertising, transaction data through National Retail Solutions, and international money remittance via BOSS Money.

Who can I contact for investor relations at IDT Corporation?

For investor relations inquiries, contact Bill Ulrey at william.ulrey@idt.net or (973) 438-3838.

What recent achievements has IDT Corporation made?

IDT Corporation has shown strong financial performance across its segments. Notably, the fintech segment's revenue contribution increased from 7.3% in 3Q23 to 10.5% in 3Q24.

How many employees does IDT Corporation have?

IDT Corporation has over 1,300 employees working across all continents except Antarctica.

What services does net2phone offer?

net2phone offers unified cloud communications and telephony services that cater to business customers.

How does IDT Corporation encourage innovation?

IDT Corporation fosters innovation by supporting in-house entrepreneurs to develop their ideas into actionable business ventures.

What is BOSS Money?

BOSS Money is a service under IDT's Fintech segment, providing international money remittance and related value/payment transfer services.

Where is IDT Corporation headquartered?

IDT Corporation is headquartered in Newark, New Jersey.

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IDT Corporation Class B

NYSE:IDT

IDT Rankings

#2374 Ranked by Market Cap
#2043 Ranked by Dividends

IDT Stock Data

1.21B
20.41M
13.62%
50.92%
1.01%
Telecom Services
Telephone Communications (no Radiotelephone)
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United States of America
NEWARK