iQSTEL Q2 Revenues Reach a Record $11M with Operating Subsidiaries Q2 2020 Net Income Surpassing $420K

NEW YORK, NY, July 29, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- iQSTEL Inc. (OTC: IQST), a leading-edge 21st Century Enhanced Telecommunications Service Provider, is pleased to provide the latest figures from Q2 2020 for our operating subsidiaries.

iQSTEL’s overall revenues for Q2 2020 surpassed the $11M mark and the net income broke past the $420K mark. The company continues on track to reach further record revenues/income figures as well as new acquisitions throughout the rest of 2020.

As seen in the included spreadsheet image (full details in the forthcoming Q2 filing), our operating subsidiaries all had positive Net Income:

Company	Etelix	SwissLink	Qglobal	IoT Labs	Operating Total
Commercial Brand	Etelix	SwissLink	Qglobal Miami	Qglobal Austin
Services	VoIP	VoIP	SMS	SMS	VoIP + SMS
Revenues	$  3,402,887	$  1,183,088	$  163,546	$  6,381,403	$  11,130,924
Gross Profit	$  304,665	$  171,760	$  61,316	$  194,567	$  732,308
Expenses	$  104,793	$  160,372	$  25,651	$  15,074	$  305,889
EBITBA	$  225,835	$  20,969	$  35,665	$  179,494	$  461,963
Net Income	$  199,872	$  11,388	$  35,665	$  179,494	$  426,419
Does NOT Include the Expenses nor Costs of our PubCo Holding iQSTEL Inc

“The tremendous growth we have seen in 2020 continues despite COVID-19’s global economic impact. Further proof that our business model, a combination of corporate growth and acquisitions, is working very well. All of our operating subsidiaries just reached a major milestone, going Net Income positive. Our management experience in Telecom Operations has been key in the achievement of these results. We look forward to fantastic Q3 and Q4’s as we anticipate further corporate and subsidiary developments leading in to 2021,” commented Mr. Iglesias, iQSTEL Inc’s CEO.