IRDM - Why Iridium Communications Shares Are Trading Lower Today | Benzinga
Iridium Communications Inc (NASDAQ: IRDM) shares are trading lower by around 6% after the company reported Q3 FY23 results.
IRDM reported revenue growth of 7% Y/Y to $197.6 million, missing the consensus of $200.09 million.
Commercial service revenue was up 12% Y/Y to $125.5 million, led by broad-based growth across all revenue lines.
Government service revenue remained flat Y/Y at $26.5 million, reflecting the contractual rate in the EMSS Contract.
Equipment revenue was down 27% Y/Y to $20.4 million, while Engineering and support revenue rose to $25.2 million from ...