For the quarter ended March 2024, Iridium Communications (IRDM - Free Report) reported revenue of $203.85 million, down 0.7% over the same period last year. EPS came in at $0.16, compared to $0.08 in the year-ago quarter.
The reported revenue represents a surprise of +3.58% over the Zacks Consensus Estimate of $196.81 million. With the consensus EPS estimate being $0.16, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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 - Voice and data: $45 versus $45.23 estimated by three analysts on average.
- ARPU - Commercial - IoT data: $7.57 versus $7.02 estimated by three analysts on average.
- ARPU - Commercial - Broadband: $274 compared to the $273.08 average estimate based on three analysts.
- Total Net billable Subscriber Additions: 54 thousand versus 56.44 thousand estimated by three analysts on average.
- Revenue- Subscriber equipment: $24.87 million versus the five-analyst average estimate of $23.90 million. The reported number represents a year-over-year change of -40.3%.
- Revenue- Service: $148.58 million compared to the $147.12 million average estimate based on five analysts. The reported number represents a change of +6.6% year over year.
- Revenue- Engineering and support service: $30.41 million versus $27.01 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +25.4% change.
- Service Revenue- Commercial: $122.08 million compared to the $120.13 million average estimate based on four analysts. The reported number represents a change of +8.2% year over year.
- Service Revenue- Government: $26.50 million versus $26.47 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
- Service revenue- Commercial service revenue- Hosted payload and other data service: $13.95 million versus $14.38 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -7% change.
- Revenue- Engineering and support service- Government: $29.26 million versus the two-analyst average estimate of $19.75 million.
- Revenue- Engineering and support service- Commercial: $1.15 million versus the two-analyst average estimate of $5.70 million.
View all Key Company Metrics for Iridium here>>>Shares of Iridium have returned -6.3% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
For the quarter ended March 2024, Iridium Communications (IRDM - Free Report) reported revenue of $203.85 million, down 0.7% over the same period last year. EPS came in at $0.16, compared to $0.08 in the year-ago quarter.
The reported revenue represents a surprise of +3.58% over the Zacks Consensus Estimate of $196.81 million. With the consensus EPS estimate being $0.16, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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 - Voice and data: $45 versus $45.23 estimated by three analysts on average.
- ARPU - Commercial - IoT data: $7.57 versus $7.02 estimated by three analysts on average.
- ARPU - Commercial - Broadband: $274 compared to the $273.08 average estimate based on three analysts.
- Total Net billable Subscriber Additions: 54 thousand versus 56.44 thousand estimated by three analysts on average.
- Revenue- Subscriber equipment: $24.87 million versus the five-analyst average estimate of $23.90 million. The reported number represents a year-over-year change of -40.3%.
- Revenue- Service: $148.58 million compared to the $147.12 million average estimate based on five analysts. The reported number represents a change of +6.6% year over year.
- Revenue- Engineering and support service: $30.41 million versus $27.01 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +25.4% change.
- Service Revenue- Commercial: $122.08 million compared to the $120.13 million average estimate based on four analysts. The reported number represents a change of +8.2% year over year.
- Service Revenue- Government: $26.50 million versus $26.47 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
- Service revenue- Commercial service revenue- Hosted payload and other data service: $13.95 million versus $14.38 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -7% change.
- Revenue- Engineering and support service- Government: $29.26 million versus the two-analyst average estimate of $19.75 million.
- Revenue- Engineering and support service- Commercial: $1.15 million versus the two-analyst average estimate of $5.70 million.
View all Key Company Metrics for Iridium here>>>Shares of Iridium have returned -6.3% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
Get the latest research report on IRDM - FREE