NEW YORK, NY, May 07, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — iQSTEL Inc. (OTC: IQST) is pleased to report strong first-quarter revenues of $4,980,151, an increase of 20% over 2019’s first-quarter. These figures do not include revenues from QGlobal SMS; they will be booked in the second-quarter. iQSTEL record setting growth continues for 2020. The completion of the QGlobal SMS subsidiary formation and recent acquisition have Q2 projections set to surpass $9 million in revenues. QGlobal SMS revenue, on a yearly basis is estimated at $30 million. The global mobile VoIP market is estimated to surpass $140 billion by 2024 according to a recent report by Grand View Research, Inc. SMS marketing market size continues to grow as another report by Grand View Research projects 20% CAGR through 2025 for the US alone as companies switch from traditional marketing methods, reducing costs and increasing ROIs. Mr. Iglesias Article source: https://www.globenewswire.com/news-release/2020/05/07/2029175/0/en/iQSTEL-Announces-5-Million-Q1-Revenues-Targets-Over-9-Million-for-Q2.html
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