Telecom Stocks in the News: iQSTEL (OTC: $IQST) Announces Revenue Increase of 20% over 2019's first-quarter
NEW YORK, NY - May 8, 2020 (Investorideas.com Newswire) VoIP / Telecom Stock News - iQSTEL Inc. (OTC: IQST) is pleased to report strong first-quarter revenues of $4,980,151, an increase of 20% over 2019's first-quarter. These figures do not include revenues from QGlobal SMS, they will be booked in the second-quarter.
iQSTEL record setting growth continues for 2020. The completion of the QGlobal SMS subsidiary formation and recent acquisition have Q2 projections set to surpass $9 million in revenues. QGlobal SMS revenue, on a yearly basis is estimated at $30 million.
The global mobile VoIP market is estimated to surpass $140 billion by 2024 according to a recent report by Grand View Research, Inc. SMS marketing market size continues to grow as another report by Grand View Research projects 20% CAGR through 2025 for the US alone as companies switch from traditional marketing methods, reducing costs and increasing ROIs.
Mr. Iglesias commented: "Our team at iQSTEL and subsidiaries bring record results again. While the COVID-19 near-global-closure has affected many companies' ability to operate, we continue to surpass expectations. Our business has stayed very strong through the COVID-19 pandemic as many businesses have expanded their work-from-home strategy, thus boosting intra-company telco services. Even though our main clients are carriers, the bulk of the underlying business is corporate. We expect this trend to continue in the coming months and even becoming part of the "new normal" we'll be seeing as the economy adapts going forward."
"QGlobal's business revenue diversification of 60% SMS and 40% VoIP is proving to be a successful model with more than 98% of our SMS revenue coming from pre-paid customers." concluded Mr. Iglesias, iQSTEL's CEO.
About iQSTEL Inc.:
iQSTEL Inc. (OTC: IQST) www.iQSTEL.com is a Publicly Listed Company in US. iQSTEL is a leading-edge 21st Century Enhanced Telecommunications Service Provider offering a wide range of cloud-based enhanced services to the Tier-1 and Tier-2 carriers, enterprise market, as well as the retail market. iQSTEL through its subsidiaries (www.etelix.com; www.SwissLink-Carrier.com ; www.QglobalSMS.com; www.itsBchain.com) offers a "one-stop-shop" for international and domestic VoIP services, SMS exchange for A2P and P2P, Internet of Things (IoT) applications, 4G & 5G international infrastructure connectivity, as well as blockchain-based payment and phone number mobility platforms to international and domestic Tier-1 carrier for VoIP, SMS, and Data.
About Etelix.com USA, LLC:
Etelix.com USA LLC www.etelix.com is wholly owned subsidiary of iQSTEL Inc. Etelix.com USA, LLC is a Miami, Florida-based international telecom carrier founded in 2008 that provides telecom and technology solutions worldwide, with commercial presence in North America, Latin America, and Europe. Enabled by its 214-license granted by the Federal Communications Commission (FCC), Etelix provides International Long-Distance voice services for Telecommunications Operators (ILD Wholesale), and Submarine Fiber Optic Network capacity for internet (4G and 5G). Etelix was founded in 2008 and has been profitable since inception.
About SwissLink Carrier AG:
SwissLink Carrier AG www.swisslink-carrier.com is a 51% owned subsidiary of iQSTEL Inc. SwissLink Carrier AG is a Switzerland based international Telecommunications Carrier founded in 2015 providing international VoIP connectivity worldwide, with commercial presence in Europe, CIS and Latin America. SwissLink Carrier AG is a Swiss licensed Operator, having a domestic Interconnect with Swisscom, allowing their international Carrier Customers direct terminations via SwissLink into all Switzerland Fix & Mobile Networks. Since the takeover from Swissphone in November 2018 and the rename into SwissLink, they operate on a profitable level.
About QGlobal SMS LLC.:
QGlobal SMS LLC www.qglobalsms.com is a 51% owned subsidiary of iQSTEL Inc. QGlobal SMS is a USA based company founded in 2020 specialized in international and domestic SMS termination, with emphasis on the Applications to Person (A2P) and Person to Person (P2P) for Wholesale Carrier Market and Corporate Market in US. QGlobal SMS has commercial presence in Europe, USA and Latin America. QGlobal SMS has robust international interconnection with Tier1 SMS Aggregators, guarantying its customers high quality and low termination rates, over more than 100 countries worldwide.
About itsBchain LLC.:
itsBchain LLC www.itsBchain.com is a 75% owned subsidiary of iQSTEL Inc. itsBchain is a blockchain technology developer and solution provider, with a strong focus on the telecom sector. The company is the final stage of development of a series of blockchain solutions aimed at using the blockchain ledger and smart contract solutions to enable more efficiency, quickness in execution and fraud-prevention in the telco industry. Specifically, the company is developing a solution that will enable users and carriers to transfer mobile phone numbers with just a few clicks, allowing users and carriers the ability to transfer retail users from one mobile carrier to another instantly. Additionally, the company is finalizing a carrier-grade marketplace solution to procure payments between carriers for cross-traffic of VoIP, SMS and data realtime as traffic is crossed between carriers. This marketplace will allow for instant payment settlement as well as the prevention of fraud between carriers.
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 statements 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, in part, 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.
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Source: iQSTEL Inc.
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