InterDigital Inc (NASDAQ:IDCC) reported financial results for the first quarter before the market open on Thursday. Here’s a look at the key metrics from the quarter.
The mobile, video and AI technology research and development company said its strong revenue results were driven by the licensing of vivo Mobile in the quarter.
“We now have seven of the ten largest smartphone vendors and almost 80% of the entire global smartphone market under license,” said Liren Chen, president and CEO of InterDigital.
“Early in the second quarter, we signed another major license agreement with HP under our consumer electronics and IoT program. With these new deals, we have signed agreements with a cumulative total contract value of more than $3.6 billion since 2021, giving us a strong base from which to drive additional growth.”
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Outlook: InterDigital expects second-quarter revenue of $165 million to $170 million versus estimates of $136.85 million, according to Benzinga Pro. The company sees second-quarter adjusted earnings in the range of $2.67 to $2.90 per share versus estimates of $1.01 per share.
InterDigital also reaffirmed full-year revenue guidance of $660 million to $760 million ($699.97 million estimate) and full-year adjusted earnings of $9.69 to $12.69 per share ($8.32 per share estimate).
IDCC Price Action: InterDigital shares were down 0.70% at $199.59 at the time of publication Thursday, per Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
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