Iridium Communications Inc reports results for the quarter ended June 30 - Earnings Summary

• Iridium Communications Inc IRDM reported quarterly adjusted earnings of 20 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 27 cents. The mean expectation of ten analysts for the quarter was for earnings of 24 cents per share. Wall Street expected results to range from 18 cents to 29 cents per share.

• Revenue rose 7.9% to $216.91 million from a year ago; analysts expected $214.15 million.

• Iridium Communications Inc's reported EPS for the quarter was 20 cents​.

• The company reported quarterly net income of $21.97 million.

• Iridium Communications Inc shares had risen by 7.5% this quarter and gained 11.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 1.5% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the wireless telecommunications services peer group is also "buy"

• Wall Street's median 12-month price target for Iridium Communications Inc is $40.00, about 18.9% above its last closing price of $32.43

This summary was machine generated from LSEG data July 24 at 01:33 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)