Robust Subscriber Growth Helps Iridium Communications Stock Take Off

Robust Subscriber Growth Helps Iridium Communications Stock Take Off

Shares of Iridium Communications (NASDAQ: IRDM) are up over 15% as of this writing thanks to strong third-quarter 2017 results. While the previous report was mixed, the company made great strides during the late summer and early fall months.

The next 12 months is an important stretch for Iridium, as it launches its next-gen satellite constellation, called NEXT. While Iridium continues deployment, subscribers to the network are already ramping up to take advantage of new services. Revenue, as well as operational earnings before interest, tax, depreciation, and amortization (OEBITDA), were up as a result, although the bottom line is down slightly on the year because of increased depreciation expense.

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Source: Fool.com