iQSTEL Inc (IQST)

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iQSTEL, Inc. Announces Etelix FY-2019 Revenue of $16,327,870 for Record Breaking Year
5:30 AM ET 1/22/20 | GlobeNewswire


iQSTEL, Inc. Announces Etelix FY-2019 Revenue of $16,327,870 for Record Breaking Year

NEW YORK, NY, Jan. 22, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- iQSTEL Inc. (OTC: IQST) announces record breaking year for its wholly owned subsidiary Etelix.

Mr. Iglesias, the Company's CEO, stated: "The growth of our main and wholly-owned subsidiary Etelix continues to grow organically, well within the Company's estimates. For the FY-2019 the Company finished with $16,327,870, an increase of 18.5% versus FY-2018. The main drivers for this growth have been excellent operational execution, as well as our continued quest for better pricing for our clients. The Company is now finalizing the final quarter revenue and operating profit for our recently acquired European subsidiary, Swisslink, which once consolidated will increase the Company's consolidated revenue and operating profit considerably. We expect to have final revenue numbers

in the coming March. Based on our excellent continued level of execution, we expect revenue and operating profit for our consolidated VoIP business to continue on a very robust growth rate through 2020 and the coming years."