InterDigital (NASDAQ: IDCC ) is a R&D company that develops advanced technologies used in wireless products. In addition, the company is one of the leading companies in video research, developing advanced video compression standards for the world. Currently, the company reports its revenueWith over 7 years of experience in the buy-side, my investment philosophy is rooted in both fundamental bottom-up analysis and quantitative modelling. My forte lies in identifying perception gaps to capitalize on over-pess ...

InterDigital, Inc. (IDCC) reported strong third-quarter 2024 results, with the adjusted earnings and revenues surpassing the respective Zacks Consensus Estimates.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The company generated higher revenues year over year, driven by solid licensing momentum and product innovation. IDCC is also advancing its leadership position in AI (artificial intelligence) applications for wireless and video technology.Net IncomeQuarterly net income decreased ...

InterDigital, Inc. (NASDAQ:IDCC) Q3 2024 Earnings Conference Call October 31, 2024 10:00 AM ET Company Participants Raiford Garrabrant - Head-Investor Relations Liren Chen - President and Chief Executive Officer Richard Brezski - Executive Vice President, Chief Financial Officer and Treasurer Conference Call Participants Scott Searle - ROTH Capital Partners Arjun Bhatia - William Blair Madeline Brooks - Bank of America Anja Soderstrom - Sidoti & Company, LLC Operator Good day and thank you for standing by. ...

InterDigital (IDCC) reported $128.68 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 8.2%. EPS of $1.63 for the same period compares to $2.13 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $96.51 million, representing a surprise of +33.33%. The company delivered an EPS surprise of +114.47%, with the consensus EPS estimate being $0.76.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

InterDigital (IDCC) came out with quarterly earnings of $1.63 per share, beating the Zacks Consensus Estimate of $0.76 per share. This compares to earnings of $2.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 114.47%. A quarter ago, it was expected that this wireless research and development company would post earnings of $0.74 per share when it actually produced earnings of $4.57, delivering a surprise of 517.57%.Over the ...

Financial Performance - Revenues for the three months ended September 30, 2024, were $128,679 thousand, a decrease of 8.5% compared to $140,106 thousand for the same period in 2023[8]. - Net income for the three months ended September 30, 2024, was $34,190 thousand, down 27.5% from $47,154 thousand in the same period last year[11]. - Operating expenses totaled $89,337 thousand for the three months ended September 30, 2024, an increase of 3.2% from $86,453 thousand in the prior year[8]. - Income from operations for the three months ended September 30, 2024, was $39,342 thousand, a decline of 26.6% compared to $53,653 thousand in the same quarter of 2023[8]. - Comprehensive income for the three months ended September 30, 2024, was $35,556 thousand, down from $47,184 thousand in the prior year[11]. - Total revenues for the nine months ended September 30, 2024, were $615.7 million, an increase of 39% compared to $444.1 million in 2023[26]. - Net income for the first nine months of 2024 was $225.5 million, compared to $172.0 million in the same period of 2023, representing a 31% increase[8]. Shareholder Returns - Cash dividends declared per common share increased to $0.45 for the three months ended September 30, 2024, compared to $0.40 in the same period last year[8]. - The company declared dividends of $0.45 per share for the period, totaling $11,817, compared to $29,106 in the previous year[17]. - The Company returned $14.5 million to shareholders in Q3 2024, including $11.4 million in cash dividends and $3.1 million in share repurchases[84]. - Cash dividends declared per common share increased to $1.25 in the first nine months of 2024 from $1.10 in 2023[8]. Cash Flow and Liquidity - Cash flows from operating activities for the nine months ended September 30, 2024, provided $79,494, a decrease from $237,318 in the prior year[17]. - Total cash, cash equivalents, and restricted cash at the end of the period was $410,780, down from $525,712 at the end of September 2023[17]. - The company had a total cash, cash equivalents, restricted cash, and short-term investments balance of $822.9 million as of September 30, 2024, down from $1,012.2 million at the end of 2023[96]. - The net cash used in financing activities for the nine months ended September 30, 2024, was $251,025, a decrease from $340,469 in the previous year[17]. Revenue Sources - Recurring revenues from smartphones decreased by 15% to $221.7 million in 2024 from $260.9 million in 2023[26]. - The company recognized $119.8 million in revenue from deferred revenue during the nine months ended September 30, 2024[27]. - Contracted revenue expected to be recognized includes $330.4 million for 2025 and $237.3 million for 2026, totaling $1.36 billion[29]. - Recurring revenues for the first nine months of 2024 decreased by 4% to $291.4 million, compared to $305.1 million in the same period of 2023[117]. Expenses and Liabilities - Operating expenses increased to $89.3 million in Q3 2024, up 3% from $86.5 million in Q3 2023, driven by a $6.1 million increase in revenue share costs[112]. - Licensing expenses surged by 151% to $149.2 million in the first nine months of 2024, compared to $59.5 million in the same period of 2023[119]. - The effective interest rate for the long-term debt was approximately 14.5%, with interest expenses of $0.6 million and $2.2 million for the three and nine months ended September 30, 2024, respectively[53]. - The total amount of other long-term liabilities was $56.1 million as of September 30, 2024, compared to $55.3 million as of December 31, 2023[46]. Legal and Regulatory Matters - The UK High Court awarded the company a total of $240.1 million from Lenovo for patent licensing through December 31, 2023, following a series of legal proceedings[58]. - The company entered into a binding arbitration agreement with Lenovo to finalize a new patent license agreement effective January 1, 2024, dismissing all pending litigations[55]. - The company filed multiple patent infringement claims against Oppo and its affiliates in various jurisdictions, including the UK, India, and Germany, seeking injunctive relief and damages[66][69]. - The company is involved in ongoing legal proceedings in multiple countries, including the US, UK, and Germany, against various companies for patent infringements related to 3G, 4G/LTE, and 5G standards[62][66]. Taxation - The effective tax rate for the nine months ended September 30, 2024, was 18.4%, up from 14.7% in 2023, primarily due to a decrease in Foreign Derived Intangible Income deduction benefits[73]. - The effective tax rate for Q3 2024 was 17.0%, up from 15.3% in Q3 2023, due to a decrease in Foreign Derived Intangible Income deduction benefits[114]. Stock and Equity - The balance of total shareholders' equity as of September 30, 2024, was $722,537, an increase from $696,777 at the end of June 2024[15]. - The company repurchased common stock totaling $66,726 during the nine months ended September 30, 2024, compared to $302,728 in the prior year[17]. - The balance of common shares as of September 30, 2023, was 69,431 thousand shares[13]. Other Financial Metrics - Basic Earnings Per Share (EPS) for the three months ended September 30, 2024, was $1.36, down from $1.82 in 2023[75]. - Net income per common share (diluted) was $8.92 for the first nine months of 2024, compared to $6.42 in the same period of 2023[8]. - The company recorded other income, net of $12.55 million for the three months ended September 30, 2024, compared to $14.73 million in 2023[78].

INTERDIGITAL ANNOUNCES FINANCIAL RESULTS FOR THIRD QUARTER 2024 Company delivers Q3 results above the top end of outlook and raises FY 2024 guidance WILMINGTON, DE. - October 31, 2024 - InterDigital, Inc. (Nasdaq: IDCC), a mobile, video, and AI technology research and development company, today announced results for the quarter ended September 30, 2024. "In the third quarter we delivered revenues of about $129 million, exceeding the top end of our guidance, driven by a strong performance from our consumer e ...

WILMINGTON, Del., Oct. 31, 2024 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC), a mobile, video, and AI technology research and development company, today announced results for the quarter ended September 30, 2024. "In the third quarter we delivered revenues of about $129 million, exceeding the top end of our guidance, driven by a strong performance from our consumer electronics and IoT licensing program," commented InterDigital CEO and President Liren Chen. "In addition, at the start of the fourth q ...

WILMINGTON, Del., Oct. 29, 2024 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC), a mobile, video and AI technology research and development company, today announced that it has signed a new license agreement with OPPO Group. The agreement covers OPPO, realme and OnePlus branded mobile devices worldwide. As part of the agreement, both parties have agreed to dismiss all pending litigations between them. “In an increasingly connected world, this agreement serves as another validation of the strength of o ...

WILMINGTON, Del., Oct. 25, 2024 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC), a mobile, video and AI technology research and development company, announced that research from InterDigital’s Video Lab was recognized with the Society of Motion Picture and Television Engineers (SMPTE) Journal Certificate of Merit. The research paper, titled “Pixel Value Adjustment to Reduce the Energy Requirements of Display Devices,” was written by InterDigital engineers Erik Reinhard, Claire-Hélène Demarty, and Laur ...