Iridium Communications (IRDM) Reports Q4 Revenues Above Estimates

Iridium Communications (NASDAQ: IRDM) reported Q4 revenue for the quarter came in at $115.5 million versus the consensus estimate of $111.7 million.

• Iridium reported fourth-quarter total revenue of $115.5 million, which consisted of $91.4 million of service revenue and $24.0 million of revenue related to equipment sales and engineering and support projects.
• Total revenue increased 7% versus the comparable period of 2016, while service revenue grew 9% from the year-ago period.
• Service revenue, which represents primarily recurring revenue from Iridium’s growing subscriber base, was 79% of total revenue for the fourth quarter of 2017.

For earnings history and earnings-related data on Iridium Communications (IRDM) click here.

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