IDT Corporation Reports Earnings Results for the Second Quarter and Six Months Ended January 31, 2023
March 08, 2023 at 04:30 pm EST
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IDT Corporation reported earnings results for the second quarter and six months ended January 31, 2023. For the second quarter, the company reported sales was USD 313.94 million compared to USD 337.06 million a year ago. Net income was USD 14.62 million compared to USD 7.49 million a year ago. Basic earnings per share from continuing operations was USD 0.57 compared to USD 0.29 a year ago. Diluted earnings per share from continuing operations was USD 0.57 compared to USD 0.28 a year ago.
For the six months, sales was USD 635.75 million compared to USD 707.14 million a year ago. Net income was USD 25.63 million compared to USD 5.02 million a year ago. Basic earnings per share from continuing operations was USD 1 compared to USD 0.2 a year ago. Diluted earnings per share from continuing operations was USD 1 compared to USD 0.19 a year ago.
IDT Corporation is a provider of fintech and communications services. Its businesses include National Retail Solutions (NRS), BOSS Money, net2phone, IDT Digital Payments, BOSS Revolution Calling and IDT Global. NRS, through its point-of-sale (POS) platform, enables independent retailers to operate while providing advertisers and marketers with unprecedented reach into underserved consumer markets. BOSS Money provides international money remittance services markets to immigrant communities across the United States and Canada. BOSS Money enables retail customers to send money to friends and family in 47 countries in Latin America and the Caribbean, Africa, Europe and Asia. net2phone provides enterprises and organizations with intelligently integrated cloud communications and contact center services across channels and devices. IDT Digital Payments provides a range of prepaid digital products, including mobile airtime top-up, mobile data bundles, digital gift cards and other offerings.