IDT grows EPS as cost-cutting takes root

|About: IDT Corporation (IDT)|By:, SA News Editor

Telecom holding company IDT (IDT +4.7%) has posted fiscal Q2 results where it grew non-GAAP EPS to $0.39 (from previous $0.33) though revenues fell, as the company cut SG&A expenses to a three-year low.

In after-hours action, shares are flat so far.

Sales dropped mainly due to reduced traffic on the U.S.-to-Mexico corridor.

Revenue breakout: Telecom Platform Services segment accounted for 98.5% of revenue, with $376.7M. TPS revenue by business: Retail Communications, $168.6M (down 7.7%); Wholesale Carrier Services, $147.2M (up 0.5%); Payment Services, $53.3M (up 6.9%); Hosted Platform Solutions, $7.6M (down 24%).

Other than TPS: Consumer Phone Services revenue, $1.8M (down 21.2%); All other, including content platform Zedge, $4M (up 35%).

Conference call to come at 5:30 p.m. ET.

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