InterDigital: 3Q Earnings Snapshot

Associated Press
Updated ·1 min read

WILMINGTON, Del. (AP) _ InterDigital Inc. (IDCC) on Thursday reported third-quarter net income of $23.8 million.

The Wilmington, Delaware-based company said it had net income of 76 cents per share. Earnings, adjusted for pretax gains, came to 17 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The wireless research and development company posted revenue of $87.5 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $85.4 million.

InterDigital shares have risen nearly 2% since the beginning of the year. The stock has declined almost 6% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IDCC at https://www.zacks.com/ap/IDCC