- United States
- /
- Telecom Services and Carriers
- /
- NasdaqGS:IRDM
Iridium Communications Third Quarter 2024 Earnings: Beats Expectations
Iridium Communications (NASDAQ:IRDM) Third Quarter 2024 Results
Key Financial Results
- Revenue: US$212.8m (up 7.7% from 3Q 2023).
- Net income: US$24.4m (up from US$1.64m loss in 3Q 2023).
- Profit margin: 12% (up from net loss in 3Q 2023).
- EPS: US$0.21 (up from US$0.013 loss in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Iridium Communications Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 8.4%.
Looking ahead, revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Telecom industry in the US.
Performance of the American Telecom industry.
The company's shares are up 14% from a week ago.
Risk Analysis
We should say that we've discovered 3 warning signs for Iridium Communications (1 doesn't sit too well with us!) that you should be aware of before investing here.
New: AI Stock Screener & Alerts
Our new AI Stock Screener scans the market every day to uncover opportunities.
• Dividend Powerhouses (3%+ Yield)
• Undervalued Small Caps with Insider Buying
• High growth Tech and AI Companies
Or build your own from over 50 metrics.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About NasdaqGS:IRDM
Iridium Communications
Provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide.
Fair value second-rate dividend payer.