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Iridium: Q1 Earnings Snapshot
MCLEAN, Va. (AP) _ Iridium Communications Inc. (IRDM) on Tuesday reported first-quarter net income of $2.8 million, after reporting a loss in the same period a year earlier.
The McLean, Virginia-based company said it had net income of 2 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The satellite phone company posted revenue of...
MCLEAN, Va. (AP) _ Iridium Communications Inc. (IRDM) on Tuesday reported first-quarter net income of $2.8 million, after reporting a loss in the same period a year earlier.
The McLean, Virginia-based company said it had net income of 2 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The satellite phone company posted revenue of $168.2 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $156.3 million.
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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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