Iridium Boosts FY22 Revenue Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Tuesday, Iridium Communications Inc. (IRDM) raised its total service revenue growth guidance for the full-year 2022, based upon the momentum still seen from its extensive global ecosystem of business partners.

For fiscal 2022, the company now projects service revenue growth of 7 to 9 percent, compared to the $492.0 million reported in 2021. Previously, the company expected total service revenue growth of 5 to 7 percent.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $677.78 million for the year.

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