MCLEAN, Va. (AP) _ Iridium Communications Inc. (IRDM) on Tuesday reported a loss of $4 million in its third quarter.
The McLean, Virginia-based company said it had a loss of 3 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The satellite phone company posted revenue of $151.5 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $138.3 million.
Iridium shares have risen 15% since the beginning of the year. The stock has increased 17% 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
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