MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Iridium Communications Inc. (IRDM) on Wednesday reported second-quarter earnings of $9.7 million.
On a per-share basis, the McLean, Virginia-based company said it had net income of 9 cents. Earnings, adjusted for non-recurring costs, came to 19 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The satellite phone company posted revenue of $225.2 million in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $221.2 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IRDM at https://www.zacks.com/ap/IRDM
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