Iridium: Q1 Earnings Snapshot

MCLEAN, Va. (AP) _ Iridium Communications Inc. (IRDM) on Tuesday reported a loss of $5.2 million in its first quarter.

The McLean, Virginia-based company said it had a loss of 4 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The satellite phone company posted revenue of $146.5 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $146.8 million.

Iridium shares have dropped 2% since the beginning of the year. The stock has risen 60% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IRDM at https://www.zacks.com/ap/IRDM

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