IDT Corp Stock Price, News & Analysis

IDT Corporation has announced the release date for its financial results for the first quarter of fiscal year 2023, covering the period ending October 31, 2022. The earnings report will be available on December 5, 2022, at approximately 5:00 PM Eastern Time on its investor relations website. Following this, IDT will host a conference call at 6:00 PM Eastern, where management will discuss results and future strategies, accompanied by a Q&A session for investors. A replay of the call will be accessible until December 19, 2022.

National Retail Solutions (NRS) has partnered with Uber Technologies to enhance delivery services for independent neighborhood retailers. The collaboration will allow retailers within NRS's network of over 20,000 POS terminals across 17,000 stores to offer same-day delivery at no cost. This initiative aims to empower local businesses amid increasing competition from rapid grocery delivery services. NRS’s platform, designed for urban markets, will leverage Uber's capabilities to improve operational efficiency and customer reach, supporting retailers in underserved communities.

NRSInsights reported a significant increase in consumer spending at NRS retailers for October 2022. Same-store sales rose 9.5% year-over-year and 3.6% from September 2022. Year-to-date sales increased 8.2%, and for the three months ending October 31, sales grew 8.6% compared to the same period last year. Items sold increased 8.6% from October 2021, with a 4.1% rise in average prices for popular items. This data reflects strong demand despite ongoing inflationary pressures in the retail market.

IDT Corporation (NYSE: IDT) will be presenting at the LD Micro Main Event XV investor conference on October 25, 2022, at 11 AM ET in Los Angeles, CA. CEO Shmuel Jonas is set to discuss the company's operations, strategy, and financial results for the fiscal year ending July 31, 2022. Investors can attend virtually or in person, with registration available online. A presentation deck will also be accessible on the IDT Corporation investor relations website.

Consumer spending at NRS retailers increased 9.5% year-over-year in September 2022, but decreased 1.2% from August 2022. NRS, serving over 20,000 terminals across independent retailers, indicated a 8.3% year-to-date sales rise. Transaction volumes increased by 5.5% year-over-year. However, inflationary pressures are affecting demand, with a 3.6% rise in average prices for top items. NRS data correlates strongly with U.S. Commerce Department data, providing insights into retail trends.

IDT Corporation (NYSE: IDT) announced strong results for 4Q22 and FY2022, highlighting record income from operations and Adjusted EBITDA. The fintech and cloud communications sectors drove this growth, with recurring revenue from National Retail Solutions increasing 157% to $17.7 million in 4Q22. Despite a 16% drop in consolidated revenue to $329 million due to declines in traditional communications, income from operations rose 13% to $19.2 million. Net income fell significantly to $17.2 million, influenced by prior tax valuation reversals and unrealized losses on investments.

IDT Corporation (NYSE: IDT) has announced it will release its financial results for the fourth quarter and fiscal year 2022 on October 6, 2022. The earnings release will be available on the company's investor relations website at 4:30 PM Eastern. Following the release, IDT will host a conference call at 5:30 PM Eastern where management will discuss the results, outlook, and strategy. Interested parties can participate by calling the provided numbers. A replay will be available shortly after the call until October 20, 2022.

IDT Corporation has partnered with United Bank for Africa (UBA) to facilitate U.S. dollar transfers directly to over 20 million UBA accounts in Nigeria. BOSS Money customers can send money quickly, with transfers starting at $3.99 for amounts up to $100. This collaboration aims to enhance customer convenience and expand remittance options. BOSS Money currently supports transfers to 50 countries via numerous agents, enhancing financial connectivity for families and businesses across borders.

NRSInsights announced that August 2022 same-store sales increased by 6.4% compared to August 2021 but fell 3.3% from July 2022. Year-to-date same-store sales are up 8.4%, and for the three months ending August 31, 2022, they rose 9.2%. Although sales compared to the previous month declined, certain categories like school supplies showed growth. Inflation appears to be easing, with average prices for popular items increasing 2.3% compared to the 2.9% rise in July 2022. NRS operates over 19,000 terminals across the U.S.