Here's What Key Metrics Tell Us About Iridium (IRDM) Q2 Earnings
Iridium Communications (IRDM) reported $193.11 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 10.4%. EPS of -$0.24 for the same period compares to $0.04 a year ago.
The reported revenue represents a surprise of -2.10% over the Zacks Consensus Estimate of $197.25 million. With the consensus EPS estimate being $0.03, the EPS surprise was -900.00%.
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.
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 - Voice and data: $46 versus $45.54 estimated by three analysts on average.
ARPU - Commercial - IoT data: $7.48 compared to the $7.47 average estimate based on three analysts.
ARPU - Commercial - Broadband: $296 versus $300.87 estimated by three analysts on average.
Total Net billable Subscriber Additions: 90 thousand versus 101.95 thousand estimated by three analysts on average.
Revenue- Subscriber equipment: $27.38 million versus $34.40 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -18.9% change.
Revenue- Service: $145.14 million versus $144.82 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9.2% change.
Revenue- Engineering and support service: $20.59 million versus $17.28 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +148.1% change.
Service Revenue- Commercial: $118.64 million compared to the $118.47 million average estimate based on four analysts. The reported number represents a change of +11.6% year over year.
Service Revenue- Government: $26.50 million compared to the $26.53 million average estimate based on four analysts. The reported number represents a change of 0% year over year.
Service revenue- Commercial service revenue- Hosted payload and other data service: $15.10 million versus $15.33 million estimated by three analysts on average.
Revenue- Engineering and support service- Government: $18.85 million compared to the $14.59 million average estimate based on two analysts.
Revenue- Engineering and support service- Commercial: $1.74 million versus the two-analyst average estimate of $2.30 million.
View all Key Company Metrics for Iridium here>>>
Shares of Iridium have returned -4.4% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Iridium Communications Inc (IRDM) : Free Stock Analysis Report
