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Oct 31, 2020
IDT Q1 2021 Earnings Report
IDT reported a strong financial quarter with substantial year-over-year improvements in revenue and bottom-line results.
Key Takeaways
IDT Corporation reported a net income per diluted share of $0.32 and Non-GAAP earnings per diluted share of $0.35 on revenue of $343 million for the first quarter of fiscal year 2021. The company's high-growth businesses, including BOSS Revolution Money Transfer, NRS, and net2phone's cloud communications offerings, generated impressive year-over-year revenue growth.
IDT's high-growth businesses contributed an increasing share of consolidated revenue.
The money transfer business benefitted from favorable foreign exchange market conditions.
IDT closed the quarter with a stronger balance sheet due to strong operational cash generation.
The company continued to invest in its businesses and repurchase its stock.
IDT
IDT
Forward Guidance
No specific forward guidance was provided in the release.