Iridium: 2Q Earnings Snapshot
Jul. 31, 2018
MCLEAN, Va. (AP) _ Iridium Communications Inc. (IRDM) on Tuesday reported a second-quarter loss of $4.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the McLean, Virginia-based company said it had a loss of 6 cents. Earnings, adjusted for pretax expenses, were 2 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The satellite phone company posted revenue of $134.9 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $120.4 million.
Iridium shares have risen 50 percent since the beginning of the year. The stock has risen 71 percent in the last 12 months.