IQST - iQSTEL 2023 Revenue Increases By 50% To $140M Delivering Revenue Per Share (RPS) Of $0.81

Rhea-AI Summary

iQSTEL Inc. (IQST) reports a 50% revenue growth to $140 million in 2023, delivering $0.81 per share compared to $0.57 per share in 2022. The company's gross margin increased in Q4-2023, with operating income turning positive ahead of schedule in Q3-2023. Management anticipates continued rapid growth in revenue and margins in 2024.

NEW YORK, Jan. 11, 2024 /PRNewswire/ -- iQSTEL Inc. (OTC-QX: IQST), in advance of company's upcoming annual shareholder meeting, today released revenue growth analysis through end of year 2023 based on preliminary accounting.  Revenue for 2023 increased by 50% over 2022 to $140 million delivering $0.81 per share compared to $0.57 per share the previous year. The company's gross margin also continues to grow with the company reporting a gross margin increase in Q4-2023 after the operating income turned positive ahead of schedule in Q3-2023. Management expects revenue and margins to continue growing rapidly in 2024.

The company recently filed a Definitive Proxy Statement in conjunction with an upcoming annual shareholder meeting scheduled on Wednesday January 31, 2023, at 10 am (EDT).  Look for more news coming soon in advance of the shareholder meeting.

About IQSTEL:

iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) is a US-based, multinational publicly listed company preparing for a Nasdaq up-listing with an FY2023 $120 million revenue forecast. iQSTEL's mission is to serve basic human needs in today's modern world by making the necessary tools accessible regardless of race, ethnicity, religion, socioeconomic status, or identity.  iQSTEL recognizes that in today's modern world, the pursuit of the human hierarchy of needs (physiological, safety, relationship, esteem and self-actualization) is marginalized without access to ubiquitous communications, the freedom of virtual banking, clean affordable mobility and information and content. iQSTEL has 4 Business Divisions delivering accessibly to the necessary tools in today's pursuit of basic human needs: Telecommunications, Fintech, Electric Vehicles and Metaverse.

• The Enhanced Telecommunications Services Division (Communications) includes VoIP, SMS, International Fiber-Optic, Proprietary Internet of Things (IoT), and a Proprietary Mobile Portability Blockchain Platform.
• The Fintech Division (Financial Freedom) includes remittances services, top up services, Master Card Debit Card, a US Bank Account (No SSN required), and a Mobile App.
• The Electric Vehicles (EV) Division (Mobility) offers Electric Motorcycles and plans to launch a Mid Speed Cars.
• The Artificial Intelligence (AI)-Enhanced Metaverse Division (information and content) includes an enriched and immersive white label proprietary AI-Enhanced Metaverse platform to access products, services, content, entertainment, information, customer support, and more in a virtual 3D interface.

The company continues to grow and expand its suite of products and services both organically and through mergers and acquisitions.  iQSTEL has completed 10 acquisitions since June 2018 and continues to develop an active pipeline of potential future acquisitions.

Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other information relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates, and projections about our business based partly on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may and are likely to differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release, and iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release. This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

iQSTEL Inc.
IR US Phone: 646-740-0907
IR Email: investors@iqstel.com

Contact Details
iQSTEL Inc.
+1 646-740-0907
investors@iqstel.com

Company Website
www.iqstel.com

 

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SOURCE iQSTEL Inc.

FAQ

What is the revenue growth reported by iQSTEL Inc. (IQST) in 2023?

iQSTEL Inc. (IQST) reported a 50% revenue growth to $140 million in 2023.

What were the earnings per share for iQSTEL Inc. (IQST) in 2023?

iQSTEL Inc. (IQST) delivered $0.81 per share in 2023, compared to $0.57 per share in 2022.

When is the annual shareholder meeting of iQSTEL Inc. (IQST) scheduled?

The annual shareholder meeting of iQSTEL Inc. (IQST) is scheduled on Wednesday, January 31, 2023, at 10 am (EDT).

What is the company's expectation for revenue and margins in 2024?

Management anticipates continued rapid growth in revenue and margins in 2024.