Compared to Estimates, InterDigital (IDCC) Q3 Earnings: A Look at Key Metrics

Core Insights - InterDigital reported revenue of $128.68 million for Q3 2024, marking an 8.2% decline year-over-year, with EPS at $1.63 compared to $2.13 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $96.51 million by 33.33%, and the EPS surpassed the consensus estimate of $0.76 by 114.47% [2] Revenue Breakdown - Recurring revenues were $98.60 million, exceeding the average estimate of $84.65 million, but reflecting a 5.6% decline year-over-year [3] - Smartphone revenue was $87.40 million, compared to the average estimate of $62.79 million, showing a 16.2% year-over-year decline [3] - CE, IoT/Auto revenue reached $40.60 million, significantly above the average estimate of $18.11 million, with a year-over-year increase of 14.8% [3] - Catch-up revenues totaled $30 million, surpassing the average estimate of $23.47 million, but showing a 15.8% decline year-over-year [3] Stock Performance - InterDigital's shares have returned 2% over the past month, outperforming the Zacks S&P 500 composite's 1% change [4] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [4]