Iridium Reiterates FY24 Service Revenue Growth Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Thursday, Iridium Communications Inc. (IRDM) reiterated its total service revenue growth guidance for the full-year 2024.

For fiscal 2024, the company still projects service revenue growth of 4 to 6 percent, compared to the $584.5 million reported in 2023.

On average, seven analysts polled by Thomson Reuters expect the company to report revenues of $799.30 million for the year.

The Board of Directors plans to increase the quarterly dividend by 5.8 percent to $0.14 per share starting with the second quarter 2024 dividend.

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