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Iridium Reiterates FY24 Service Revenue Growth Outlook - Update
(RTTNews) - While reporting financial results for the first quarter on Thursday, Iridium Communications Inc. (IRDM) reiterated its total service revenue growth guidance for the full-year 2024.
For fiscal 2024, the company still projects service revenue growth of 4 to 6 percent, compared to the $584.5 million reported in 2023.
On average, seven analysts polled by Thomson Reuters expect the company to report revenues of $799.30 million for the year.
The Board of Directors plans to increase the quarterly dividend by 5.8 percent to $0.14 per share starting with the second quarter 2024 dividend.
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Thai Stock Market Due For Consolidation On Tuesday
Ahead of Monday's holiday for Coronation Day, the Thai stock market had moved higher in five straight sessions, gathering more than 50 points or 4.2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,200-point plateau although it's expected to open in the red on Tuesday.
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Australian Market Modestly Lower
The Australian stock market is trading modestly lower on Tuesday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 8,200 level, with weakness in iron ore miners, financial and some technology stocks partially offset by strong gains in gold miners.
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Hong Kong Bourse May Spin Its Wheels On Tuesday
Ahead of Monday's holiday for the buddha's birthday, the Hong Kong stock market had finished higher in three straight sessions, collecting almost 550 points or 2.4 percent along the way. The Hang Seng Index now sits just above the 22,500-point plateau although the rally may stall on Tuesday.
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China Shares May Return To The Downside
Ahead of the long holiday weekend, the China stock market had finished lower in four straight sessions, sliding more than 20 points or 0.7 percent along the way. The Shanghai Composite Index now sits just beneath the 3,280-point plateau and it may open under pressure again on Tuesday.
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