12:35 PM EDT, 07/23/2024 (MT Newswires) -- (Updates with the stock price movement in the headline and first paragraph.)

Iridium Communications ( IRDM ) shares rose over 11% in recent trading on Tuesday after the company posted Q2 net income ahead of analysts' consensus.

The company reported Q2 net income of $0.27 per diluted share, swinging from a net loss of $0.24 a year earlier.

Analysts polled by Capital IQ expected earnings of $0.18.

Revenue for the quarter ended June 30 was $201.1 million, up from $193.1 million a year earlier.

Analysts surveyed by Capital IQ expected $203.6 million.

The company maintained its full-year outlook of service revenue growth of 4% to 6%.

Price: 28.89, Change: +2.97, Percent Change: +11.46