Iridium Communications Shares Rise After Earnings Beat

Dow Jones

Oct 17, 2024

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)

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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 &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Iridium Communications Shares Rise After Earnings Beat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIridium Communications Shares Rise After Earnings Beat\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-10-17 22:12</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Don Nico Forbes \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares in Iridium Communications rose after the company swung to profit in the third quarter, beating analyst expectations. \n</p>\n<p>\n  Shares were recently up nearly 16% at $34.96. \n</p>\n<p>\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</p>\n<p>\n  Analysts were expecting earnings per share of 20 cents, according to FactSet. \n</p>\n<p>\n  Revenue rose 8% to $212.8 million, boosted by higher commercial service revenue and government engineering revenue. 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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":0,"need_auth":true,"code":"91000000","status":"200"}}}