IQST - Strong Q3 Revenue Growth Sends Shares Of Telecom Stock Up Over 50% On Day

 

October 29, 2020 -- InvestorsHub NewsWire -- via Baystreet Staff -- It is earnings season, which is why there is a deluge of companies currently reporting their current financial situation. Some will disappoint, others will surprise to the upside. Telecommunication and fintech service provider, iQSTEL, Inc. (OTCPK:IQST) looks to be in the latter camp with the company announcing today that they will be reporting $13.2 million in revenue in its upcoming Q3 financial report, a 17.8% increase over the $11.2 million in revenue reported in Q2. The company set a revenue record for the month of September reaching $4.5 million.

The company will report a total of $29.3 million in revenue for the nine months ending September 30, 2020 realizing a 134% increase over the $12.5 million reported for same period for the previous year. IQST is a fully reporting company with audited financials.

The Company also reiterated a 2020 $42 million estimated revenue outlook which was recently published in the Goldman Small Cap Research Analyst Report earlier this week.

News of the revenue surge excited investors and sent shares of IQST up 51.87% to $0.1139 in late-morning trading.

Source: http://www.baystreet.ca/stockstowatch/9021/Strong-Q3-Revenue-Growth-Sends-Shares-Of-Telecom-Stock-Up-Over-50-On-Day9021

Other stocks on the move:  BRTXQ, GAXY and PHBI

 

SOURCE: Baystreet Staff