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MCLEAN, Va. - Iridium Communications Inc. (NASDAQ:IRDM) reported better-than-expected first quarter results on Tuesday.
The company’s shares gained 2.97% in premarket trading following the earnings release.
The satellite communications company posted adjusted earnings of $0.27 per share, surpassing analyst estimates of $0.22 per share. Revenue rose 5% year-over-year to $214.9 million, also topping expectations of $211.7 million.
Iridium saw broad-based growth across its business segments. Commercial service revenue, which makes up the bulk of total revenue, increased 4% to $127.5 million. The company ended the quarter with 2.44 million total billable subscribers, up 5% from the prior year.
"Demand for Iridium’s mission-critical applications continued to drive revenue growth and support share buybacks," said CEO Matt Desch.
For the full year 2025, Iridium reiterated its outlook for total service revenue growth of 5-7% and operational EBITDA between $490 million and $500 million.
The company also announced plans to increase its quarterly dividend to $0.15 per share starting in the third quarter, representing a 5.5% increase for the full year.
Iridium repurchased 2.4 million shares for $70 million during the quarter as part of its ongoing buyback program.
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