InterDigital Q3 Earnings Results: EPS Beat, Revenue Beat, Raised Guidance

InterDigital inc. (NASDAQ:IDCC) reported third-quarter financial results before the market open on Thursday. Here’s what you need to know.

What To Know: InterDigital posted adjusted earnings per share of $1.63, beating the estimate of 24 cents per share, and revenue of $128.68 million, topping analyst estimates of $95.95 million, per Benzinga Pro.

Revenue from InterDigital's consumer electronics and IoT licensing program grew by 15% year-over-year, partly offset by a 16% drop in smartphone-related revenue, impacted by lower catch-up revenues and the expiration of its Huawei agreement at the end of 2023.

Net income came in at $34.2 million. Adjusted ...