Iridium Boosts FY22 Service Revenue Growth Outlook - Update

(RTTNews) - While reporting financial results for the third quarter on Thursday, Iridium Communications Inc. (IRDM) raised its total service revenue growth guidance for the full-year 2022, based upon the momentum seen across all commercial business lines.

For fiscal 2022, the company now projects service revenue growth of 8 to 9 percent, compared to the $492.0 million reported in 2021. Previously, the company expected total service revenue growth of 7 to 9 percent.

On average, seven analysts polled by Thomson Reuters expect the company to report revenues of $698.86 million for the year.

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