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Iridium: 1Q Earnings Snapshot

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.

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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