Reported 1 day ago
Iridium Communications (NASDAQ:IRDM) saw a significant 22% drop in its stock price, closing at $25.26, after revealing disappointing earnings and a lowered growth outlook. The company's net income for Q2 fell 32% to $21.97 million compared to the previous year, although revenues rose 8% to $216.9 million. Despite this setback, Iridium announced an increased cash dividend of $0.15 per share for September, up from $0.14 in Q2.
Source: YAHOO