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Iridium (IRDM) Reports Q2 Earnings: What Key Metrics Have to Say
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Iridium Communications (IRDM - Free Report) reported $201.07 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 4.1%. EPS of $0.27 for the same period compares to -$0.24 a year ago.
The reported revenue represents a surprise of +0.03% over the Zacks Consensus Estimate of $201.01 million. With the consensus EPS estimate being $0.19, the EPS surprise was +42.11%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Iridium performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
ARPU - Commercial - IoT data: $7.70 versus $7.31 estimated by three analysts on average.
ARPU - Commercial - Broadband: $269 versus $276.40 estimated by three analysts on average.
Total Net billable Subscriber Additions: 80 thousand compared to the 91.41 thousand average estimate based on three analysts.
Total Billable Subscribers: 2,413 thousand versus 2,424.15 thousand estimated by three analysts on average.
Revenue- Subscriber equipment: $22.78 million versus the five-analyst average estimate of $23.28 million. The reported number represents a year-over-year change of -16.8%.
Revenue- Service: $152.47 million versus $152.70 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5.1% change.
Revenue- Engineering and support service: $25.82 million versus the five-analyst average estimate of $24.97 million. The reported number represents a year-over-year change of +25.4%.
Service Revenue- Commercial: $125.97 million versus the four-analyst average estimate of $126.42 million. The reported number represents a year-over-year change of +6.2%.
Service Revenue- Government: $26.50 million versus the four-analyst average estimate of $26.50 million. The reported number represents a year-over-year change of 0%.
Service revenue- Commercial service revenue- Hosted payload and other data service: $14.43 million compared to the $15.13 million average estimate based on three analysts. The reported number represents a change of -4.4% year over year.
Revenue- Engineering and support service- Government: $24.30 million versus the two-analyst average estimate of $21.07 million. The reported number represents a year-over-year change of +28.9%.
Revenue- Engineering and support service- Commercial: $1.52 million versus the two-analyst average estimate of $1.67 million. The reported number represents a year-over-year change of -12.5%.
Shares of Iridium have returned +3.4% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Iridium (IRDM) Reports Q2 Earnings: What Key Metrics Have to Say
Iridium Communications (IRDM - Free Report) reported $201.07 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 4.1%. EPS of $0.27 for the same period compares to -$0.24 a year ago.
The reported revenue represents a surprise of +0.03% over the Zacks Consensus Estimate of $201.01 million. With the consensus EPS estimate being $0.19, the EPS surprise was +42.11%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Iridium performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- ARPU - Commercial - IoT data: $7.70 versus $7.31 estimated by three analysts on average.
- ARPU - Commercial - Broadband: $269 versus $276.40 estimated by three analysts on average.
- Total Net billable Subscriber Additions: 80 thousand compared to the 91.41 thousand average estimate based on three analysts.
- Total Billable Subscribers: 2,413 thousand versus 2,424.15 thousand estimated by three analysts on average.
- Revenue- Subscriber equipment: $22.78 million versus the five-analyst average estimate of $23.28 million. The reported number represents a year-over-year change of -16.8%.
- Revenue- Service: $152.47 million versus $152.70 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5.1% change.
- Revenue- Engineering and support service: $25.82 million versus the five-analyst average estimate of $24.97 million. The reported number represents a year-over-year change of +25.4%.
- Service Revenue- Commercial: $125.97 million versus the four-analyst average estimate of $126.42 million. The reported number represents a year-over-year change of +6.2%.
- Service Revenue- Government: $26.50 million versus the four-analyst average estimate of $26.50 million. The reported number represents a year-over-year change of 0%.
- Service revenue- Commercial service revenue- Hosted payload and other data service: $14.43 million compared to the $15.13 million average estimate based on three analysts. The reported number represents a change of -4.4% year over year.
- Revenue- Engineering and support service- Government: $24.30 million versus the two-analyst average estimate of $21.07 million. The reported number represents a year-over-year change of +28.9%.
- Revenue- Engineering and support service- Commercial: $1.52 million versus the two-analyst average estimate of $1.67 million. The reported number represents a year-over-year change of -12.5%.
View all Key Company Metrics for Iridium here>>>Shares of Iridium have returned +3.4% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.