mPhase Technologies Inc. reported financial results for first quarter ended September 30, 2020. For the quarter, the company reported that revenue remained steady at $7.6 million, a continuation of the recurring revenue trend in recent quarters and in line with the $7.6 million. Operating income was $1.2 million achieved the Company’s third consecutive profitable quarter compared to a loss of $10.1 million in fiscal first quarter 2020. Net income was $0.7 million achieved the Company’s third consecutive profitable quarter, compared to a net loss of $10.3 million in fiscal first quarter 2020. Basic and diluted net income per common share of $0.01 significantly improved from basic and diluted net loss per share of $0.85 in first quarter 2020.