Editor’s Note: This article was updated on Oct. 2, 2020, to correct EPS numbers.
IDT (NYSE:IDT) earnings for the telecommunications company’s fiscal fourth quarter of 2020 have its stock soaring higher on Friday. This comes after reporting adjusted earnings per share of 62 cents and revenue of $360.3 million.
Here are some additional highlights from the most recent IDT earnings report.
- Adjusted per-share earnings are up over 300% from 15 cents during the same time last year.
- Revenue for the quarter comes in 1.2% higher than the $356.1 million reported in fiscal Q4 2019.
- Operating income of $14.2 million is a positive change year-over-year from an operating loss of $1.2 million.
- The IDT earnings report for the quarter is sitting at $21.5 million.
- That’s a 1243.8% jump from the company’s net income of $1.6 million from the same period of the year prior.
Shmuel Jonas, CEO of IDT, said this about the earnings results.
“Our fourth quarter results were quite good. We achieved our highest levels of consolidated quarterly margin contribution and Adjusted EBITDA in over a decade. We experienced strong demand across all of our BOSS Revolution consumer offerings. In particular, our Money Transfer business built upon its strong organic growth by leveraging certain, favorable foreign exchange market conditions to deliver exceptional results this quarter.”
IDT doesn’t discuss guidance in its current quarter. That makes sense with the novel coronavirus causing problems for markets. Many other companies are withholding outlooks during the pandemic.
IDT stock was up 41.4% as of Friday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
