Iridium: Q2 Earnings Snapshot
By AP News
Published - Jul 25, 2023, 07:51 AM ET
Last Updated - Jul 25, 2023, 07:51 AM EDT
MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Iridium Communications Inc. (IRDM) on Tuesday reported a loss of $30.7 million in its second quarter.
The McLean, Virginia-based company said it had a loss of 24 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The satellite phone company posted revenue of $193.1 million in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $197.2 million.
