Iridium: Fourth Quarter Earnings Overview

Iridium Communications Announces Fourth-Quarter Earnings

Iridium Communications Inc., headquartered in McLean, Virginia, revealed a net profit of $24.9 million for the fourth quarter, according to its latest financial report released on Thursday.

The company’s earnings translated to 24 cents per share, exceeding the consensus estimate of 23 cents per share as projected by seven analysts polled by Zacks Investment Research.

Despite outperforming profit expectations, Iridium’s quarterly revenue reached $212.9 million, falling short of the $219.6 million anticipated by analysts surveyed by Zacks.

Looking at the full year, Iridium reported a total net income of $114.4 million, or $1.06 per share, with annual revenue amounting to $871.7 million.

This article was produced by Automated Insights using information from Zacks Investment Research.