IDT Corp Down 7.03% To $28.96 After Earnings

IDT Corp (IDT) said after close Monday that it earned $0.46 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods. The company reported $299.3 million in revenue

In the same quarter a year ago, the company earned $0.23 per share on revenue of $328.4 million.

The stock is down 7.03% to $28.96 after the report.

Despite IDT Corp reporting a decline in revenues, earnings increased signaling a rise in profit margins.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 52.

IDT Corp is a multinational holding company. It primarily operates in the telecommunications and payment industries. It has two reportable business segments, Telecom & Payment Services, and net2phone. The Telecom & Payment Services segment that derives majority revenue provides retail telecommunications and payment offerings as well as wholesale international long-distance traffic termination. The net2phone segment provides unified cloud communications and telephony services to business customers.