Iridium shares tumbled Thursday as the company announced Q2 results that included lowering its services revenue outlook for 2025. In a call with analysts, CEO Matt Desch said service revenue is expected to grow 3%-5% this year, instead of its previous forecast of 5%-7%. Desch chalked up that lower estimate to increased maritime broadband competition, voice subscriptions losses related to canceled U.S. Agency for International Development funding and some positioning, navigation and timing revenue that is now expected to arrive in 2026 instead of this year. William Blair's Louie DiPalma wrote investors that SpaceX was "the primary culprit," with maritime customers shifting from Iridium's satellite network to Starlink. Though many of those customers still use Iridium as a backup, that arrangement generates less revenue, he said. While Iridium expects broadband pricing pressure into 2026, the company raised prices for its commercial satellite phone plans on July 1, which is expected to result in satellite phone service revenue growth accelerating in the second half, DiPalma said. Desch said Iridium has signed several memorandums of understanding with mobile network operators for Iridium's NTN Direct narrowband IoT service, with NTN Direct to launch in 2026. Iridium stock closed Thursday at $25.26, down $7.17.
The FCC's 2022 quadrennial review will be "inspired" by the 8th U.S. Court of Appeals decision on the 2018 QR (see 2507230063), said FCC Chairman Brendan Carr in a news conference Thursday. Carr pointed to the court's analysis of statutory language as informing the FCC's review. The 8th Circuit ruled that the language requiring FCC quadrennial reviews allows the agency only to loosen rules that are no longer in the public interest, not expand existing rules. The decision's elimination of the top-four prohibition means the agency's QR inquiry can be narrower, he said. The agency "obviously has to move forward with the quad," Carr said.
FCC Chairman Brendan Carr told reporters Thursday he wasn’t surprised by DOJ's analysis of T-Mobile’s buy of UScellular wireless assets (see 2507110045). Gail Slater, Antitrust Division chief, raised concerns about the loss of UScellular as a competitor and the overall competitiveness of the U.S. wireless sector. “The stark facts of today merit our immediate attention: together, the Big 3 account for more than 90 percent of the roughly 335 million mobile subscriptions in the United States,” Slater said.
AST SpaceMobile is facing growing global opposition from the amateur radio universe about plans to use the 430-440 MHz band for telemetry, tracking and control (TT&C) (see 2507170030). Since last Wednesday, docket 25-201 has received more than 2,100 submissions -- most from amateur radio advocates. Comments were due Monday on AST's request to use the band and operate an additional 243 satellites atop the five already authorized (see 2506200061).
New York will soon be the latest state to make incarcerated individuals' phone calls free in an effort to increase communication accessibility and improve prison safety. Five states -- California, Colorado, Connecticut, Massachusetts and Minnesota -- have already made phone calls free in their facilities. The New York Department of Corrections and Community Supervision (DOCCS) announced Tuesday that the change will take effect Aug. 1.
Skydance Media is committed to unbiased journalism and diverse viewpoints, which "will ensure CBS’s editorial decision-making reflects the varied ideological perspectives of American viewers," CEO David Ellison promised FCC Chairman Brendan Carr, according to docket 24-275 filed Friday. Recapping their meeting, Skydance said it's also committed "to promoting non-discrimination and equal employment opportunity at New Paramount, ensuring the company is fully compliant with law." That seemingly refers to Carr's pledge that the agency will block mergers based on companies' diversity, equity and inclusion practices (see 2503210049).
Verizon is seeing a continuing hit from the current administration’s cuts to the federal workforce, CEO Hans Vestberg acknowledged Monday as the company announced Q2 results. Verizon was the first of the big three carriers to release quarterly results.
Analyses of Versions 5 and 6 of the FCC's broadband data collection show the number of unserved locations in the U.S. dropping significantly, broadband consultancy CostQuest said Friday. Version 5 captures data from June 2024 and Version 6 from December 2024. CostQuest said that in those six months, unserved locations in the U.S. decreased 27%, while underserved locations grew by 22%. Its analysis of Version 5 showed 108 million broadband-serviceable locations served, 2.45 million underserved and 5.1 million unserved, versus 109 million served, 2.99 million underserved and 3.75 million unserved in Version 6. The analyses don't include unlicensed fixed wireless in determining coverage status, CostQuest noted.
The FCC posted on Thursday the drafts for all the items teed up for votes at the commission’s Aug. 7 open meeting. Most have a deregulatory bent.
FCC Chairman Brendan Carr on Wednesday unveiled a full agenda for the Aug. 7 open meeting, leading off with proposed changes to the National Environmental Policy Act (NEPA). Also included are draft orders that Carr said were aimed at streamlining submarine cable licensing and satellite and earth station licensing. As will be true for the July meeting, cutting regulation will be a priority in August (see 2507030049).