IDT Corp. (IDT) Reports Q2 EPS of $0.49 on Revenues of $340M

March 4, 2021 4:33 PM EST

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

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.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Earnings, Management Comments

Related Entities

Earnings, ARK