Iridium (IRDM) Q4 Earnings & Revenues Beat Estimates, Up Y/Y

Iridium Communications (IRDM) reported earnings per share (EPS) of 30 cents for fourth-quarter 2023, which beat the Zacks Consensus Estimate of earnings of 3 cents. The company reported a loss of 1 cent in the prior-year quarter.Management noted that earnings benefited due to an increase in tax benefits and continued growth in total commercial services. Additionally, the company's expected satellite useful lifetimes have changed, which has resulted in a year-over-year decrease in depreciation expense.Quarte ...