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Notice: Undefined index: HTTP_ACCEPT_LANGUAGE in /home/stockstowatch/public_html/wp-content/mu-plugins/GrULw0.php on line 4 Why InterDigital (IDCC) Shares Are Gaining Today – InterDigital (NASDAQ:IDCC) – Stocks to Watch
Mobile and video technology research and development company InterDigital, IncIDCCboosted its third-quarter 2022 revenue outlook to $112 million – $115 million, up from its previous expectations of $96 million – $100 million and against the Street view $98.83 million.
The updated guidance included $100 million of recurring revenue. It reflected continuing success in the core smartphone licensing program and new licensing agreements signed within the consumer electronics, automotive, and IoT revenue category.
InterDigital noted that its third-quarter operating expenses would range between $88 million – $90 million, including an $11 million – $13 million increase in the company’s performance-based compensation accruals.
In addition, InterDigital forged a patent license agreement with a major technology company. The financial terms of the deal remain undisclosed.
InterDigital reported second-quarter FY22 revenue growth of 42% year-on-year to $124.7 million, beating the consensus of $122 million.
Price Action: IDCC shares traded higher by 16.63% at $47.14 on the last check Monday.
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