Small-Cap Tech Company (NYSE: IDT) Soars 30% After Earnings Announcement

Vance AuerOctober 10, 20181min34
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IDT Corporation (NYSE: IDT), through its subsidiaries, operates primarily in the telecommunications and payment industries in the United States and internationally. It operates in three segments: Telecom Platform Services, Unified Communications as a Service, and Consumer Phone Services. In pre-market trading sessions shares jumped 26% as the company reported fiscal fourth-quarter earnings. It had net income of $8.2 million, or 33 cents per share, versus a loss of $9.8 million, or a per share loss of 41 cents, for the year-ago same quarter. The company posted a revenue of $392.6 million, versus $395.0 million in the 2017 quarter. As of now the company’s stock is up 32%.

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