InterDigital Q4 Results Top Estimates; Guides Q1, FY24 Well Above Estimates
(RTTNews) - InterDigital, Inc. (IDCC) on Thursday reported fourth-quarter net income available to common shareholders of $39.1 million or $1.41 per share, up from $32.4 million or $1.08 per share in the prior-year quarter.
Excluding one-time items, adjusted earnings for the quarter were $1.41 per share, compared to $1.62 per share in the year-ago quarter.
On average, five analysts polled by Thomson Reuters expected the company to report earnings of $0.89 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter decreased 10 percent to $105.5 million from $117.1 million in the same quarter last year. Analysts expected net sales of $104.64 million for the quarter.
Looking ahead the first quarter, the company expects earnings in a range of $2.40 to $2.95 per share and adjusted earnings in a range of $3.02 to $3.58 per share on net sales between $245 million and $255 million. Analysts expected earnings of $1.29 per share on net sales of $107.68 million for the quarter.
For fiscal 2024, the company now projects earnings in a range of $4.95 to $6.15 per share and adjusted earnings in a range of $7.45 to $8.76 per share on net sales between $620 million and $670 million. The Street is looking for earnings of $4.51 per share on net sales of $505.52 million for the year.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
InterDigital To Renew Patent License Agreement With Samsung
South Korea Shares May Head South Again On Monday
New Zealand Retail Sales Data Due On Monday
TSX Ends Sharply Lower On Mixed Economic Data, Weak Commodities
Dollar Rises, Gains Against Major Counterparts
Swiss Market Ends On Buoyant Note
U.S. Dollar Higher Amid Risk Aversion
