Iridium Communications Inc (NASDAQ:IRDM) unfold its third quarter earnings results on Tuesday 20th October 2020 before market open.
The companyreported $ 0.03 loss per share for the quarter, beat the consensus estimate of $ 0.11 loss per share by $ 0.08 or 72.73 percent.
Iridium Communications Inc had revenue of $ 151.47 million for the quarter, compared to the consensus estimate of $ 138.12 million. The revenues outshined analysts estimates by $ 13.35 million or 9.67 percent.
The financial report showed revenues increased 4.61 percent versus third quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
Matt Desch, CEO, Iridium, said, Iridiums business model has proven quite resilient given the importance of our services in the face of a global pandemic. With nearly a full turn of deleveraging in 2020, we are well on our way to achieving our targeted leverage range and undertaking material returns of capital to shareholders.
