iQSTEL (IQST) Stock Jumps After Earnings: Is it Sustainable?

One of the stocks that seemed to be considerable focus on Friday among investors was that of iQSTEL Inc (OTCMKTS:IQST).

The company announced its financial results for the first quarter of 2021 yesterday and in this situation, it might be a good move for investors to start taking a closer look at the numbers. iQSTEL Inc ended the first quarter with cash and cash equivalents of as much as $3.032 million, which represents a significant jump of 302% from the previous quarter.

On the other hand, the total value of the assets under the company’s control soared by as much as 37% to hit $8.168 million. As far as the headline figures are concerned, iQSTEL Inc’s revenues soared by a staggering 182% on a sequential basis to touch $14.197 million for the quarter. The net loss for the period also went down to $1.878 million, which was a major improvement from the net loss of $3.909 million iQSTEL Inc suffered in the previous quarter.