Iridium: Q3 Earnings Snapshot

MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Iridium Communications Inc. (IRDM) on Tuesday reported third-quarter net income of $106.9 million.

On a per-share basis, the McLean, Virginia-based company said it had net income of 98 cents. Earnings, adjusted for non-recurring gains, were 38 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The satellite phone company posted revenue of $245.7 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $240.8 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