Categories Earnings, Technology

Iridium Communications (NASDAQ: IRDM): Q4 2019 Earnings Snapshot

— Iridium Communications (NASDAQ: IRDM) reported fourth quarter 2019 loss of $0.82 per share versus a loss of $0.22 per share expected.

— Revenue grew 5% to $138.9 million versus $138.76 million expected.

Earnings Update by AlphaStreet

— Total billable subscribers grew 16% year-over-year to 1.3 million.

— Commercial voice and data subscribers were up 1% from the year-ago period to 363,000 subscribers.

— Commercial business ended the quarter with 1.165 million billable subscribers compared to 1.008 million in the prior-year quarter.

— Total service revenue increased 10%, while equipment revenue declined 15%.

— For fiscal 2020, total service revenue is expected to be grow in the range of 6% to 8%.

— IRDM stock ended down 4.74% at $28.77 yesterday.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

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