Iridium Communications shares are trading lower after the company reported worse-than-expected Q2 financial results and reaffirmed FY23 guidance.
Portfolio Pulse from Benzinga Newsdesk
Iridium Communications reported worse-than-expected Q2 financial results, causing its shares to trade lower. However, the company reaffirmed its FY23 guidance.
July 25, 2023 | 3:12 pm
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Iridium Communications' Q2 results were below expectations, leading to a drop in share price. The company's FY23 guidance was reaffirmed.
Iridium Communications' worse-than-expected Q2 results have negatively impacted investor sentiment, leading to a drop in share price. However, the reaffirmation of FY23 guidance may provide some stability in the longer term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100