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.
Alta Fox Capital Management, a significant shareholder of Hasbro (NASDAQ: HAS), is advocating for board changes at the upcoming Annual Meeting, highlighting the need for improved capital allocation and governance. In a recent letter, Alta Fox noted the independent advisory firm ISS recommends a 'WITHHOLD' vote on long-serving director Edward M. Philip, citing concerns over financial performance and disclosures. Alta Fox is now focused on electing Marcelo Fischer, a capital allocation expert, to replace Philip, aiming to address long-standing issues and enhance shareholder value.
Alta Fox Capital Management urges shareholders of Hasbro (NASDAQ: HAS) to vote for its three independent nominees for the Board of Directors, citing chronic underperformance by existing members. Alta Fox, holding 2.6% of Hasbro's shares, targets the removal of long-tenured directors, claiming they have overseen significant market share losses and inadequate capital allocation strategies. The firm believes that electing new members will enhance governance and accountability. The annual meeting is scheduled for June 8, 2022, where shareholders can vote via the GOLD Proxy Card.
IDT Corporation (NYSE: IDT), a provider of fintech and communication services, will report its third-quarter financial results for fiscal 2022 on June 2, 2022. The report will cover results for the period ending on April 30, 2022.
The earnings release will be available on the company’s investor relations website around 4:30 PM Eastern. An earnings call will follow at 5:30 PM Eastern, allowing for management discussions and Q&A.
IDT Corporation (NYSE: IDT) has partnered with TerraPay to expand its BOSS Money remittance service, allowing direct deposits to approximately 40 million accounts in Ethiopian banks. This service enables users in the US to send cash instantly to family and friends in Ethiopia. Customers can transfer up to $100 for $3.99 or up to $2,999 for $6.99, enjoying competitive exchange rates. This move enhances IDT's service offerings in the Ethiopian diaspora, complementing existing cash pick-up options at over 4,600 locations.
IDT Corporation (NYSE: IDT) has announced the postponement of its planned spinoff of the net2phone cloud communications segment, initially scheduled for on or before July 31, 2022. The decision comes in response to current market conditions. President Jonah Fink highlighted net2phone's growth and its recent acquisition of Integra, indicating a strong position in North and South America. CEO Shmuel Jonas emphasized plans to enhance net2phone's profitability and business transformation while remaining committed to its long-term growth.
IDT Corporation (NYSE: IDT) has launched its BOSS Money remittance service to Jamaica, enabling users in the U.S. to send cash to family and friends instantly in Jamaican Dollars. Transfers up to US$1,000 cost US$3.99, and first-time senders can transfer up to US$300 free of charge. With this launch, BOSS Money now services 50 countries through 1,250 payout locations worldwide. The collaboration with LASCO Financial Services aims to simplify financial transactions for the Jamaican diaspora.
IDT Corporation (NYSE: IDT) has announced its acquisition of Leaf Global Fintech Corporation, a digital wallet provider focused on unbanked populations in East Africa. This strategic move aims to expand Leaf's services in Rwanda, Uganda, and Kenya, facilitating secure transactions via its blockchain-based platform. Leaf's wallet is accessible to users of smartphones and feature phones, allowing currency storage and transfers across borders. The acquisition is expected to leverage IDT's network to enhance Leaf's deployment globally.
IDT Corporation (NYSE: IDT) reported its 2Q22 results, revealing a 0.8% revenue decline to $337 million compared to the previous year. EPS fell to $0.28 from $0.51. Notable revenue increases included NRS at $10.6 million (+103.6%) and net2phone subscriptions at $12.5 million (+32.3%). Money Transfer revenue decreased by 6.2% to $12.5 million, though adjusted figures showed a potential growth of 48%. Adjusted EBITDA rose 14.3% to $18.7 million. The company aims to complete the net2phone spin-off by July 31, 2022.
net2phone, a subsidiary of IDT (NYSE: IDT), has acquired Integra CCS, enhancing its position in the cloud communications sector. Integra offers a comprehensive CCaaS platform featuring omnichannel support and advanced analytics. The acquisition is expected to drive significant growth, with Integra already achieving cash flow positivity and near triple-digit revenue growth. This strategic move aligns with market demands for integrated communication solutions and leverages net2phone’s global sales network.
IDT Corporation (NYSE: IDT), a global provider of fintech and communication services, will release its financial results for Q2 FY2022 on March 7, 2022. The earnings report will be available on the IDT investor relations website at approximately 4:30 PM Eastern. An earnings conference call will follow at 5:30 PM Eastern, featuring management's discussion of results, outlook, and strategy, with a Q&A session for investors. A replay will be accessible after the call until March 14, 2022 via designated phone lines.
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