Iridium’s headline profit jumps on acquisition gain while operating EBITDA slips
Iridium ($IRDM) reported quarterly revenue of $245.7 million, up 8%, with service revenue increasing 13%. Subscribers rose 6% to approximately 2.696 million. Net income reached $106.9 million, or $0.98 per share, compared with $37.1 million and $0.35 a year earlier. The headline earnings increase included a $103.9 million acquisition-related gain, making the reported profit growth an imperfect measure of recurring operations. Operational EBITDA was $135.6 million, slightly below $136.6 million i
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