Interdigital ( (IDCC) ) has released its Q3 earnings. Here is a breakdown of the information Interdigital presented to its investors.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
InterDigital, Inc. is a global research and development company that focuses on wireless, video, and AI technologies, designing foundational technologies for various communication and entertainment products and services.
In its third-quarter earnings report for 2024, InterDigital disclosed revenues of $129 million, surpassing its previous guidance, largely due to robust performance in their consumer electronics and IoT licensing segments. The company also raised its full-year revenue guidance by $145 million, highlighting new agreements with OPPO Group and Lenovo as significant contributors.
Financially, InterDigital experienced a decrease in revenues and net income compared to the same quarter in the previous year, with revenues dropping by 8% to $128.7 million and net income declining by 29% to $34.2 million. Operating expenses increased slightly by 3%, and the company reported a decrease in adjusted EBITDA by 22% to $64.8 million. Despite these declines, the CE, IoT/Auto segment showed a positive growth of 15%.
Looking ahead, InterDigital has raised its outlook for the full year 2024, projecting revenues between $855 million and $865 million, and adjusted EBITDA between $533 million and $543 million, suggesting a positive trajectory supported by existing agreements. The company continues to focus on expanding its licensing programs and leveraging strategic partnerships to enhance its financial performance.
