IDT Corp. (IDT) Reports Q2 EPS of $0.49 on Revenues of $340M
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IDT Corp. (NYSE: IDT) reported Q2 EPS of $0.49, versus $0.11 reported last year. Revenue for the quarter came in at $340 million, versus $324 million reported last year.
2Q21 HIGHLIGHTS (Results are for 2Q21 and are compared to 2Q20)
- Consolidated revenue increased 5% to $340 million from $324 million.
- Consolidated revenue-less-direct-cost-of-revenue increased 15% to $71 million from $61 million, the sixth consecutive quarter of year-over-year increases.
- National Retail Solutions (NRS), BOSS Revolution Money Transfer, and net2phone-UCaaS subscription revenues increased by 151%, 73% and 36%, respectively.
- The Fintech and net2phone-UCaaS segments contributed 30% of the consolidated revenue-less-direct-cost-of-revenue, compared to 19% in the year ago quarter.
- Consolidated income from operations increased to $12.9 million from $1.3 million.
- Adjusted EBITDA* increased to $16.3 million from $7.4 million, and Adjusted EBITDA* less capital expenditures** increased to $12.0 million from $3.6 million.
- Earnings per diluted share increased to $0.51 from $0.04. Non-GAAP earnings per diluted share* was $0.49 compared to $0.11.
REMARKS BY SHMUEL JONAS, CEO
"IDT delivered another strong quarter, including significant year-over-year increases in consolidated revenue, income from operations and EPS.
"The quarter's results were highlighted by year-over-year revenue expansion from our three higher margin businesses: National Retail Solutions (NRS), BOSS Revolution Money Transfer and net2phone-UCaaS. NRS increased revenue year-over-year by over 150% powered by sales of its payment processing services and digital out-of-home advertising offerings. Money Transfer revenue posted a 73% year-over-year increase, and subscription revenue for net2phone-UCaaS' service climbed 36% with solid growth across all regions."
For earnings history and earnings-related data on IDT Corp. (IDT) click here.
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