iQSTEL Inc. Reports 50% Revenue Increase, Anticipates Rapid Growth in 2024

Summary

  • iQSTEL Inc. (OTC-QX: IQST), a multinational tech company, saw significant growth in revenue by 50% reaching $140 million in 2023.
  • In 2023’s Q4, the gross margin increased positively, forecasting continuous growth in 2024.
  • In preparation for the annual shareholder meeting, they have filed a Definitive Proxy Statement with the meeting to happen on January 31st, 2023.
  • iQSTEL operates four divisions in Telecommunications, Fintech, Electric Vehicles, and AI-Enhanced Metaverse, achieving growth organically and via acquisitions.

An Unprecedented Growth

iQSTEL Inc. (OTC-QX: IQST), a global tech entity, recently declared a substantial surge in its 2023 yearly revenue. The preliminary accounting information revealed that the company saw a growth of 50% in revenue, reaching a new high of $140 million. This expansion resulted in a revenue per share (RPS) of $0.81, increasing from $0.57 per share in 2022.

Positive Profit Margin Growth

Further to this, the company experienced a climb in the gross margin during Q4 of 2023. This rise followed a beneficial operating income reported ahead of schedule in Q3. With such advancements, the team expects a speedy and steady upswing in revenue and margins throughout 2024.

Upcoming Annual Shareholder Meeting

Prior to its yearly shareholder meeting, iQSTEL has presented a Definitive Proxy Statement. This much-anticipated event is scheduled for January 31, 2023, and additional updates are awaited in the countdown to the assembly.

Company’s Business Divisions

iQSTEL serves its clients through four vital business divisions – Telecommunications, Fintech, Electric Vehicles (EV), and an AI-Enhanced Metaverse. Growth has been organic and also via strategic assimilations, with 10 successful acquisitions since June 2018.

Tech-oriented Services Offered

The telecommunications division offers services like VoIP, SMS, international fiber-optic communications along with proprietary IoT and mobile portability blockchain platforms. Their fintech division offers features like remittance, a MasterCard debit card, a unique mobile application for a US bank account without needing a social security number and more. Meanwhile, the AI-Enhanced Metaverse offers an innovative white-label metaverse platform for virtual 3D interactions.

The information above is based on an official statement and signifies the company’s performance and strategic plans towards the close of 2023. For more details, refer to our T&C. This content was created using AI and duly checked by a professional editor.

The financial statistics above could potentially impact forex trade positively, specifically assets related to telecom, fintech, EV, and AI sectors.

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