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Iridium Surges On Strong Subscriber Growth: 'We Plan To Continue Being Aggressive,' CEO Says
Iridium Communications Inc (NASDAQ:IRDM) shares are trading higher on Tuesday after the McLean, Virginia-based company reported second-quarter earnings of 27 cents per share, beating the street view of 18 cents.
Quarterly sales of 201.067 million missed the street view of $201.852 million.
Iridium ended the quarter with 2.41 million total billable subscribers, versus 2.14 million for the year-ago period. Subscriptions are up from 2.33 million for the quarter ended March 31, 2024.
Total billable subscribers grew 13% year-over-year, led by growth in commercial IoT.
Net income ...