Iqstel Inc (OTCMKTS:IQST) is gaining momentum on Friday reacting to its first-quarter earnings.
As of 11:50, IQST stock is trading higher by 12.50% at $0.54. So far, more than 1.255 million shares have exchanged hands. After opening at $0.489, the stock jumped to as high as $0.59 and touched a session low of $0.45. The stock has gained almost 150% so far in 2021.
IQST Reports Q1 Results
Friday’s late morning, Iqstel reported its first-quarter results. Following are the key highlights from the press release:
- Revenues: $14.197 Million vs $5.017 Million representing a 182% increase.
- Net Loss: ($1.878 Million) vs ($3.909 Million) representing a $2.031 Million positive improvement.
- Cash and Cash Equivalents $3.032 Million vs $0.753 Million representing a 302% increase.
- Total Assets: $8.168 Million vs $5.951 Million representing a 37% increase.
- Total Stockholder´ Equity: $1.359 Million vs ($2.395 Million) representing an increase of $3.754 Million taking the company from a deficit to a surplus.
IQST slid 13 days in a row before Friday. Perhaps todays’ news will give bulls something to get excited about. The stock is trading below all its major moving averages. It would be strong to see the stock close near its highs.