iQSTEL Inc (IQST)

[Belg]

IQST – iQSTEL Expects To Meet Or Surpass 2022 $90 Million Revenue Forecast Reporting $84.5 Million YTD Through November



New York, NY, December 7, 2022 -- iQSTEL, Inc. (OTCQX: IQST) today announced a 52% increase in revenue for the month of November reaching $10 million (based on preliminary accounting) compared to $6.6 million for the same period in 2021.



The company’s revenue YTD through the end of November is $84.5 million.



iQSTEL recently published its Q3 financial report for FY 2022 reporting $21.94 million, a 33% increase compared to the same period the previous year. Notably, iQSTEL reported its first operating and consolidated income positive period in Q3 achieving one of the company´s financial objectives for FY-2022 earlier than anticipated.



With $84.5 million in revenue YTD through the end of November, management is confident iQSTEL will meet or exceed its $90 million annual revenue forecast for 2022.



“We recently announced a $105 million preliminary annual revenue forecast for 2023,” said iQSTEL CEO Leandro Iglesias. “Based on our 2022 results through a challenging global economy we are confident our preliminary 2023 forecast is quite achievable. We anticipate some major projects currently underway could potentially result in an upward revision of our 2023 forecast. As always, all of us here at iQSTEL remain committed to our promise that the best is yet to come.”