Iridium Communications Shares Rise After Earnings Beat

Dow Jones

2024-10-17

By Don Nico Forbes

Shares in Iridium Communications rose after the company swung to profit in the third quarter, beating analyst expectations.

Shares were recently up nearly 16% at $34.96.

The satellite communications company swung to a profit of $24.4 million, or 21 cents a share, compared with a loss of $1.64 million, or 1 cent a share, in the year-prior period.

Analysts were expecting earnings per share of 20 cents, according to FactSet.

Revenue rose 8% to $212.8 million, boosted by higher commercial service revenue and government engineering revenue. Analysts were expecting revenue at $206.2 million.

Commercial service revenue rose 6% to $133.3 million, while total billable subscribers grew 11%.

Write to Don Nico Forbes at don.forbes@wsj.com

(END) Dow Jones Newswires

October 17, 2024 10:12 ET (14:12 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Analysts were expecting revenue at $206.2 million. \n</p>\n<p>\n  Commercial service revenue rose 6% to $133.3 million, while total billable subscribers grew 11%. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Don Nico Forbes at don.forbes@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 17, 2024 10:12 ET (14:12 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones & Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IRDM","symbol_name":"铱星通讯","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2476750391","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2476750391","pubTimestamp":1729174320,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares in Iridium Communications rose after the company swung to profit in the third quarter, beating analyst expectations.Shares were recently up nearly 16% at $34.96.The satellite communications company swung to a profit of $24.4 million, or 21 cents a share, compared with a loss of $1.64 million, or 1 cent a share, in the year-prior period.Analysts were expecting earnings per share of 20 cents, according to FactSet.Revenue rose 8% to $212.8 million, boosted by higher commercial service revenue and government engineering revenue. Analysts were expecting revenue at $206.2 million.Commercial service revenue rose 6% to $133.3 million, while total billable subscribers grew 11%.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"IRDM":"铱星通讯"},"translate_title":"铱星通信股价在盈利超出预期后上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IRDM":1},"content_text":"By Don Nico Forbes \n\n\n \n\n\n  Shares in Iridium Communications rose after the company swung to profit in the third quarter, beating analyst expectations. \n\n\n  Shares were recently up nearly 16% at $34.96. \n\n\n  The satellite communications company swung to a profit of $24.4 million, or 21 cents a share, compared with a loss of $1.64 million, or 1 cent a share, in the year-prior period. \n\n\n  Analysts were expecting earnings per share of 20 cents, according to FactSet. \n\n\n  Revenue rose 8% to $212.8 million, boosted by higher commercial service revenue and government engineering revenue. Analysts were expecting revenue at $206.2 million. \n\n\n  Commercial service revenue rose 6% to $133.3 million, while total billable subscribers grew 11%. \n\n\n \n\n\n  Write to Don Nico Forbes at don.forbes@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 17, 2024 10:12 ET (14:12 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}