MCLEAN, Va. (AP) _ Iridium Communications Inc. (IRDM) on Tuesday reported a first-quarter loss of $18 million, after reporting a profit in the same period a year earlier.
The McLean, Virginia-based company said it had a loss of 18 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The satellite phone company posted revenue of $133.7 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $128.9 million.
Iridium shares have climbed 44 percent since the beginning of the year. The stock has more than doubled in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IRDM at https://www.zacks.com/ap/IRDM